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Executive Order on mining signed by Philippine president

English.news.cn   2012-07-07 15:05:14            

MANILA, July 7 (Xinhua) -- Philippine President Benigno Aquino has finally signed the Executive Order (EO) on the country's new mining policy, and it will be released to the public on Monday, Malacanang Palace, Office of the President of the Philipppines, said on Saturday.

Palace Spokesman Edwin Lacierda said in an interview with state- run Radyo ng Bayan that Environment Secretary Ramon Paje will brief Palace reporters on the salient points of the EO on mining on Monday afternoon.

"It has been signed .. It will be issued next week," Lacierda said, when asked to confirm if Mr. Aquino has signed the much anticipated EO on mining.

He declined to give details of the new mining policy but said that Paje will give a presentation on it "so that there will be no speculations about the EO because stakeholders in business, especially the mining industry, and environmentalist have been awaiting this."

President Aquino had earlier said that the new mining policy would be out by end-February, but this was postponed, pending more consultations with stakeholders.

The President had earlier said that the new mining policy would bar mining activities in about 78 eco-tourism sites in the country, and would push for a higher government share in mining revenues, since it only gets a 2 percent excise tax from gross sales at present.

Editor: Yang Lina
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