Philippine Govt: Will Continue To Encourage Investment In Mining

MANILA, Jul 02, 2010 (Dow Jones Commodities News via Comtex) --The Philippine government Friday assured investors in the mining industry that it will continue to encourage investment in the sector.

"We will continue to encourage sustainable mining," Ramon Jesus Paje, the newly appointed Environment and Natural Resources Secretary, told reporters.

Changes in the country's laws during the administration of former president, Gloria Macapagal Arroyo, opened the industry for greater foreign investment in mining.

The Philippines' Chamber of Mines has projected that it could attract $10 billion-$12 billion in investment by 2013.

Critics of the mining industry continue to be a strong lobby group in the Philippines.