sharing in governance of extractive industries
The new environment secretary of the Philippines Regina Lopez is serious on her promise last year to follow a policy path to ensure responsible and sustainable mining for the country and in particular protect the communities affected by mining operations. Last Thursday Mrs. Lopez announced an order for the closure of 23 mines, mainly for ruining watershed areas and “indiscriminate mining.” “It is time for social justice she shared because you cannot run your business and affect our farmers and fishermen. This is not acceptable under the President Duterte administration and not acceptable under the Department of Environment and Natural Resources.
Following the announcement mining industry’s disruption that involved some firms related to several publicly listed companies, the mining and oil index fell by 1.65 percent on Thursday.
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