Bill amends Philippine Mining Act of 1995

Foreign and local businessmen may soon be encouraged to invest in the local mining industry
under a bill seeking to shorten the process of securing a permit to operate a mining company in the
country.
Rep. Al Francis Bichara (2
nd
District, Albay, author of !ouse Bill "#$%, said the bill &ould
shorten the tedious process of applying for a mining permit from the government.
'he bill seeks to amend the Republic Act %("2 other&ise kno&n as )hilippine *ining Act of
+((,.
Bichara said mining is being touted as one of the pillars of economic development by the present
administration since the country is really rich in mineral resources.
-.ith proper regulations to protect the environment and ensure sound mining practices, mining
has great potentials to develop and spur the economic gro&th of our countryside through infrastructure
development, /ob creation and of course, an increase in government revenues, particularly of host local
government units,0 Bichara said.
Bichara said the industry has already attracted a lot of investors, serious or other&ise, as result of
the rise of metal prices in the &orld market.
-'ogether &ith the influ1 of investors are the speculators, middlemen, shysters and all other
personalities trying to cash in on the booming industry,0 Bichara said.
-As a result, there are certain mining claims &hich are being applied for e1ploration by
individuals and or corporations &ho are not serious investors but are mere speculators,0 Bichara said.
Bichara said there are serious investors &ho are discouraged to come in due to the delay in the
processing of permits. -.ith this bill, &e can no& separate the serious investors from mere speculators
and at the same time, streamlining and cutting bureaucratic red tape,0 Bichara said.
'he measure mandates the *ines and 2eosciences Bureau *2B to grant e1ploration permit to a
3ualified person, to be acted upon &ithin 4# days from submission of all re3uirements, and provided that
all re3uirements are submitted &ithin ninety days from filing of the application permit.
5hould the applicant fail to submit the re3uirements &ithin ninety days from filing of the
application for e1ploration permit6 such application shall be deemed ipso facto abandoned &ith finality.
All application for e1ploration permits not acted upon by the Bureau &ithin si1ty days from the
submission of all re3uirements shall be deemed approved.
A holder of an e1ploration permit &ho fails to enter, occupy, possess as &ell as to commence
e1ploration &ork &ithin 4# days from approval of the e1ploration permit, or incurs gross delay or
deviation from its approved &ork program or &ho fails to submit periodic reports to the *2B shall be
dis3ualified. ($# jc
NR # 3552
AUG 8, 2014

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