Author Topic: Best mining stock; AT, LC, MA, ORE or PX? (Read 34593 times)

pokerdude · « **Reply #345 on:** Jun 21, 2012, 08:28 AM »

Headline ng PDI PNoy to issue mining EO before or this Friday. Too early to say kung ano effect on LC and other mining stocks.

source: http://www.inquirer.net/

wiggy · « **Reply #346 on:** Jun 21, 2012, 01:12 PM »

Partida lumalaban parin ang mining. LC to take-off na again?

vgal0579 · « **Reply #347 on:** Jun 25, 2012, 09:09 AM »

New mining policy expected to be signed soon

MANILA, Philippines - The country’s new mining policy which was expected to be signed late Friday, may be signed anytime soon, an official said.

Mines and Geosciences Bureau director Leo Jasareno said in a telephone interview over the weekend that President Aquino has not signed the draft executive order (EO) containing regulations for the mining industry.

“There are some final touches being made on the draft to ensure that the provisions are not subject to different interpretations,” he said.

“It (mining EO) is still an urgent matter for the government so it could be released anytime soon,” he said further.

The draft mining EO was submitted to President Aquino on Monday.

Environment Secretary Ramon Paje met with Executive Secretary Paquito Ochoa, Jr. to discuss the draft EO on Friday.

Jasareno said the EO was not signed by Aquino after the meeting.

He said some details of the draft mining EO were still being fine-tuned but declined to elaborate on the provisions which needed to be revised.

Earlier, Paje said the mining policy will push for responsible mining operations in the country, such that firms will not be allowed to mine unless the impacts of their projects are studied thoroughly.

He said programs to mitigate the impacts of mining projects to the environment will also have to be in place by firms before being allowed to operate.

He said the government will likewise push for higher share from mining by raising the fees miners have to pay for their operations.

President Aquino said earlier the mining policy would be issued in February but the rules were not released as planned as the government cited the need for more consultations.

The MGB estimates mining investments to the country this year will reach $2.27 billion.- L Desiderio

dinaren · « **Reply #348 on:** Jun 25, 2012, 01:52 PM »

lalabas na nabasa ko na some excerpts of EO.

@akira, undoubtedly, its gonna be a HOLD for my mining issues for a long loong time.

stockbreaker · « **Reply #349 on:** Jun 25, 2012, 02:11 PM »

What are the other provisions in EO aside from the increase in fees for the mining operations and "responsible mining" that may affect the mining stocks? Mukhang bad news nga eto but still hoping that this wont hurt the mining stocks badly.

joconcepcion · « **Reply #350 on:** Jun 25, 2012, 02:33 PM »

Better ask mr. TED Failon... i'm sure hindi nila titigilan ang mga irresponsible mining company.. abangan po.

akira0422 · « **Reply #351 on:** Jun 25, 2012, 03:30 PM »

Hi din...yup... its gonna be a hold... for a wyl... and i hope for good. excited about the eo but too bad, takes a little longer to sign, since some are just not open enough... maraming politico. XD

Post Merge: Jun 26, 2012, 12:01 AM

on another note.......

at has now opened its carmen pit with higher grade ore... check disclosure.XD

akira0422 · « **Reply #352 on:** Jul 03, 2012, 04:22 PM »

just another lose end.....
Mining industry officials have expressed frustration over the delay in the granting of permits for new projects, and the need for Congressional approval is likely to hold up permits further, stalling up to $12 billion in new investments planned over the next five years.

The new investments include Southeast Asia’s biggest undeveloped copper-gold mine, the $5.9-billion Tampakan project by global miner Xstrata Plc and Australia’s Indophil Resources NL, which has so far failed to get an environmental clearance from the government.

Asked when the moratorium would be lifted, Mr. Aquino told Reuters in an interview that it would need “the EO plus the necessary changes to the legislation.”

The executive order is a presidential directive which can impose new rules but not new taxes.

“The revenue portion is actually something that has to be spelled out by the new legislation,” he said.

Manila wants to extract more revenues from the mining industry to offset the environmental risks involved, Mr. Aquino said.

“[It is] 100% ours in terms of the resources, 100% of the risk, 100% of the catastrophe, then we get less than 10% of the proceeds -- that doesn’t seem to be a good equation,” he said.

He said the government earned just P13.4 billion in mining taxes in 2010, less than 10% of the industry’s total revenue of P145 billion.

Manila also wants to see more mineral processing in the country, Mr. Aquino said. At present, most mining firms ship ore to their clients, many of whom are in China and Japan, due to a lack of processing facilities in the country.

The Philippines, which sits on an estimated $1 trillion worth of untapped metal resources -- mostly gold, nickel and copper -- expects to attract about $2.3 billion in investment in new and existing projects this year if the moratorium is lifted by the third quarter.

A major mining reform was undertaken last year when hundreds of permits for defunct projects were canceled, opening about five million hectares of potentially mineralized areas across the archipelago to new investors who are waiting for the government to lift the moratorium.

Mr. Aquino said he expects to get the final draft of a new executive order clarifying the government’s mining policy this week. The draft has been revised “to ensure that even the smallest of the loopholes will not exist,” he said.

He also said the policy would declare 78 eco-tourism areas around the country where a total ban on mining would be imposed.

At least 14 provinces, mostly mineral-rich areas, have issued ordinances and resolutions against mining, according to the Mines and Geosciences Bureau. These include South Cotabato, host of the Tampakan mine which is under threat from a two-year-old provincial ordinance banning open-pit mining. The local government bans run counter to the national mining law, which does not restrict mining exploration methods. -- Reuters

wiggy · « **Reply #353 on:** Jul 06, 2012, 04:06 PM »

Great rally on mining stocks today. LC's current chart/stats is delicous. Hoping for a bullish market next week.

daphne · « **Reply #354 on:** Jul 06, 2012, 06:07 PM »

Quote from: wiggy on Jul 06, 2012, 04:06 PM

Great rally on mining stocks today. LC's current chart/stats is delicous. Hoping for a bullish market next week.

LC is doing good as it close today... abangan sa lunes anung mngyayari!!!

mikoangelo · « **Reply #355 on:** Jul 07, 2012, 10:36 AM »

New MIning Policy Signed

http://manilastandardtoday.com/www2/2012/07/07/new-mining-policy-signed/

http://www.scribd.com/doc/99323955/Manila-Standard-Today-July-7-2012-Issue

wiggy · « **Reply #356 on:** Jul 07, 2012, 12:15 PM »

Quote from: mikoangelo on Jul 07, 2012, 10:36 AM

New MIning Policy Signed

http://manilastandardtoday.com/www2/2012/07/07/new-mining-policy-signed/

http://www.scribd.com/doc/99323955/Manila-Standard-Today-July-7-2012-Issue

Kaya pala... Alam na!