Philippines Update

Philippines update

1st June 2007

Sandwiched between slowly evolving election plans and the forthcoming Asia-Pacific Mining Conference in Manila (with some relish thrown im, following the President's recent visits to Japan, New Zealand and Australia), it has been a busy time recently for government mining propaganda. The executive's line that mining will bring prosperity for all is saturating the Philippine press, and only a few journalists are questioning the actual rate of growth (or lack of it) in foreign invesment in the domestic mining industry.

Nonetheless, in response to this barrage of press releases and reports, an equally vociferous range of critics still pursues its agenda, especially over the deals being done by the travelling President.

There have been further requests for an investigation of local peoples' claims of a spillage at the troubled Rapu Rapu mine (and the share price of its owner. Lafayette, appears to be taking a heavy drubbing).

Atlas Consolidated has continued to its expand its horizons, bouyed up by a loan secured via Deutsche Bank. All this links to recent coverge of Canada's Roundtable process (see related article posted on the MAc site this week) as well as the launch of the Human Rights Impact Assessment. Also noted here is the request of Philippine Bishops for support in critiquing the activies of Canadian mining company, TVI.