President Rodrigo Duterte's decision not only ignores demands from pro-mining groups but also from members of his own government, including the current environment minister Roy Cimatu.
The Philippines Mining News
Lepanto was among more than two dozen companies ordered halted by a sacked minister who led an environmental crackdown.
Roy Cimatu, who replaced ousted ecologist Regina Lopez in May, has said he would review evidence brought forward by mining companies and communities before deciding whether to keep, modify, or reverse his predecessor's measures.
Former minister Lopez had to leave the post after the same legislative panel that delayed Cimatu’s confirmation rejected her appointment.
Rodrigo Duterte said ban should remain in place given the environmental damage it causes, but noted he would give companies time to find alternative mining methods.
In an effort to receive more financial benefits from mining operations, the government's proposal will also require investors in the sector to get legislative approval before operating.
Environment and Natural Resources minister Roy Cimatu also said there was no rush to make decision on suspended, closed mines.
More supply will likely drag prices lower, as the metal already touched a one-year low of $8,680 per tonne on the London Metal Exchange last week and is down more than 10% this year.
Mothers will do everything to ensure a bright future for their children.
The new head of the environment office, Roy Cimatu, has however said he believed it was possible to balance mining and natural resources protection.
Congress decision puts and end to a 10-month tenure during which Regina Lopez ordered the closure of more than half the country's mines and banned open-pit mining.
Prohibition only affects planned mines, not the ones currently in operations, but it will take effect immediately.
Should the government go ahead with all the recommended shutdowns and suspensions, global supply of nickel will drop by about 8%.
The move is part of the government's increasing efforts to clamp down on damage caused by the mining industry in the nation, the world's top nickel ore supplier.
Philippines president Rodrigo Duterte tells miners "We will survive as a nation without you" as ministry shuts down three nickel mines in a month.
The local Extractive Industries Transparency Initiative (EITI) ) aims to guarantee the country’s mining sector transparency and accountability.
Zamboanga Sibugay mine turned out unprofitable.
With the exception of Ghana and Cape Verde, which were ranked as “medium risk” in the index published Wednesday, all others were classified as “high risk."