Archive for June 6th, 2012

Gov. Cagas backs Tampakan copper-gold project in Davao del Sur

Davao del Sur governor Douglas Cagas has raised concerns over the delays besetting the Tampakan copper-gold project, the biggest investment to reach his province so far.

“I am concerned about the delays to the project with the national government discussing policy and profit-sharing changes governing mining”, Cagas said.

Davao del Sur has a lot of stakes with the proposed $ 5.9 billion mining project since the mine’s main infrastructures, including a concentrator, a fresh water dam, and a waste rock storage facility, will be constructed in the province, resulting in potential billions of revenue in terms of property and operational taxes.

Cagas has publicly declared support behind the Tampakan mining project.

“For as long as Sagittarius Mines, Inc. (SMI), the government contractor for the Tampakan project, remains committed to their promise of responsible mining, I am for this project”, he said.

Cagas, however, also said that he understands why the national government is seen as “being cautious” with this project.

But Cagas said that the national government should reconsider its position and finally “push the go button” for the Tampakan project.

“The national government recently pronounced that a responsible mining industry is one of our best hopes economically and that is a positive sign for the Tampakan project,” Cagas said.

“I am confident that President Aquino knows that this project is good for the country’s economy”, Cagas said.

Asked about the provincial ban on open pit mining affecting the Tampakan project, Cagas said that as a lawyer he knew that a provincial ordinance could never prevail over a national law.

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