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CEBU CITY – Four miners were confirmed dead while six others have remained missing following a landslide at the mining site of the Carmen Copper Corp. (CCC) in Toledo City in midwestern Cebu Monday afternoon
Moncano cited initial findings which indicate that Typhoon Vicky may have “exacerbated the already waterlogged limestone and mudstone layer from the prior typhoons that weakened its contact with the intrusive rock base.”
“Atlas is known for its strict adherence to the highest safety and health standards. Nevertheless, accidents happen in any industry. This is why the Chamber and its members are constantly looking for ways to further improve our safety and health protocols,” it said in a statement
“The important thing is for the industry to learn lessons from incidents such as this to continue to improve its protocols and practices. Undoubtedly the industry as a whole will absorb the lessons from this incident,” the chamber added
In a statement disclosed to the stock exchange Tuesday, ACMDC said “the incident was traceable to the incessant rains for the past several months and aggravated by Typhoon Vicky which hit parts of the Visayas, including Toledo City last Friday, December 18, 2020.”
As a result, the Philippines is far from the heaviest player in the gold space — read about the top gold-producing countries here — but it’s clear that the nation does play a role in producing gold. The Philippines was ranked 24th in terms of global gold production in 2018, producing 36.8 tonnes of the precious metal.
Here’s a look at some of the challenges of mining gold in the Philippines, as well as its growth potential and an overview of the publicly traded companies that are currently mining and exploring for the yellow metal in that region.
As mentioned, mining for gold in the Philippines is not an easy task. While vast mineral reserves and potential exist, the country holds to strict mining laws, citing environmental impact and worker welfare as key reasons for these rules
This is why the country reportedly holds the world’s second-largest gold deposits, but they remain largely untapped — extraction of the metal comes with concerns surrounding health, safety, environmental hazards and rights of local (indigenous) people who are at the receiving end of deadly wastewater
This emphasis on environmental impact has been championed by the current president, Rodrigo Duterte. He has said that mining companies must “shape up” as they are causing harm to land and water systems. In 2017, he even accused Canadian mining companies of a destabilization plot
Duterte continued this ill will towards the mining industry when in 2018 he made comments that he would like to shut down the sector entirely due to the alleged environmental damage it has caused the region. Under Duterte’s rule, there have been several mine closures and permit denials
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