Mining groups back Senate Bill 2826’s fiscal provisions but reject raw ore export ban, citing economic concerns

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Mining groups back Senate Bill 2826’s fiscal provisions but reject raw ore export ban, citing economic concerns - Business Mirror

Quick Summary:

The Chamber of Mines of the Philippines (COMP) and the Philippine Nickel Industry Association (PNIA) expressed their support behind the fiscal provisions of Senate Bill 2826, which passed on second reading on Tuesday.

However, COMP and PNIA nixed the provision in the same measure that imposes a ban on the export of raw ores, saying it is the last thing the country needs.

This policy change could disrupt these agreements, leading to contractual disputes, penalties, and loss of trust in the Philippines as a reliable trading partner,” COMP and PNIA said.