As RP mining booms, gov’t losing experts to private firms
September 29th, 2008
Filed under: General News
by CARMELA FONBUENA, abs-cbnNEWS.com/Newsbreak | 09/26/2008 7:52 PM
The government is fast losing its mining experts to private companies that offer very lucrative salaries. This endangers the government’s crucial monitoring capacity at a time when mining activities—both legal and illegal—are proliferating because of soaring metal prices.
Data show that mining investments grew exponentially since the revitalization of the mining industry in 2004. From US$140 million in 2004, it grew almost five times to $605 million in 2007. Based on MGB’s projections, investments will shoot up to $1.8 billion in 2009 and to $4.1 billion in 2010.
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