PHL govt needs to rethink mining policies, says NSCB

The Philippine government needs to study its mining policies, because 12-year data on the mining and quarrying sector revealed its contributions to the economy are insignificant, the National Statistical Coordination Board (NSCB) noted in a report released Wednesday.   In the 12 years to 2010, the mining and quarrying sector contributed the least to the Philippine economy, the board said in its report, “Can Gold Mining Revitalize the Industry? Or Should it?”   "With the contribution of Gold mining to the domestic and global economy during the period 1998-2010 and its consequence on the environment when not responsibly done… one  should ask… how the  government should push for the mining industry to maintain the stream of income and benefits coming from gold production, despite the costs,” the NSCB said in its report.   From 1998 to 2010, the sector accounted for a mere 0.9 percent of Philippine output as measured by the gross domestic product (GDP), the NSCB said.   Compared with the 23.5-percent contribution of the manufacturing sector and 16.2 percent from the trade sector, the mining and quarrying sector’s contribution to the economy in the same 12-year period was insignificant, the NSCB noted.   While data for the mining and quarrying sector reflected the least in terms of contribution to the domestic economy, it is a major source of foreign exchange earnings.   By commodity, gold accounts for the biggest share among the commodity groups. It accounted for 30.7 percent on average, followed by crude oil, natural gas and condensates, the NSCB said.   In terms of employment, the mining and quarrying sector generated 0.4 percent or 130,000 on average to the total employment, the NSCB said in the report signed by Secretary-General Romulo Virola.   “Not contributing much really, but greater than the contribution of the EGW (electricity, gas and water sector),” the NSCB said.   Still, the NSCB noted the share of mining and quarrying to total employment has been increasing since 2008. —VS, GMA News