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MANILA - The Mines and Geosciences Bureau on Tuesday said it may scale back its metal production target for this year given the continued suspension of operations at the Padcal mine.
“We are reviewing our growth targets. We will come up with new figure soon,” said Leo Jasareno, MGB director.
Philex Mining Corp., which operates the Padcal mine, is one of the biggest copper and gold producers in the country. Production at Padcal was suspended last month following a leak at one of the mine's tailings pond.
The MGB earlier forecast metallic mineral production to reach P110.57 billion this year, or 9.36 percent lower than the P121.99 billion last year. Last year, Philex accounted for P16 billion of the country’s metal output.
Apart from cutting the country's target output, the Padcal mine accident may derail the government's efforts to strengthen the mining sector, Jasareno said.
Philex Mining's chairman, Manuel V. Pangilinan, also chairs TV5, of which InterAksyon.com is the online news portal.
“Philex is our best mine. It serves as a model for other mining companies operating in the country. So until such time that the problem has been addressed, we cannot use them in our information campaign,” he said.
“Those who are against mining now have the ammunition,” he added.
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