Envi group dismayed over Senate’s Mining Fiscal Regime Bill

Alyansa Tigil Mina expressed dismay over the swift passage in the Senate of the Mining Fiscal Regime Bill, stressing that the proposed law heavily favors mining corporations and lowers government’s potential revenues.

Jaybee Garganera, ATM National Coordinator, said “We are frustrated that the bill was hastily sent to the bicameral committee for deliberations.”

Lamenting that advocacy groups were not even consulted on the proposed provisions of the bill, he stressed that the Senate bill “is not the version that environmental and transparency groups supported when this Congress started.”

“The new tax rates effectively reduce the tax that can be collected by government”, he said. “The formula for the windfall profit tax is absurdly high such that it is unrealistic to expect additional tax collection by the government.”

Garganera further criticized the proposed export ban on raw mineral ores. “The 5-year window prior to the ban on the export of raw nickel ores will only make miners fast-track their extraction, which will result in more mining projects, more destruction of our ecosystems and more displacement of affected communities, but with reduced taxes and revenues from mining.”

“This is a win for the mining industry, but a great loss  for Filipinos, Philippine biodiversity and the country’s economy,” he concluded.