Surigao del Norte Rep. Robert Ace Barbers, in his privilege speech, said the mining industry is “the only answer to our economic woes… that could pay off all the debts incurred now and stimulate growth in our economy.” | NAMercadoINQ
Barbers said the current international trading price of gold had already reached more than $2,000 per ounce, pointing out that the country has “millions upon millions of ounces of gold deposits.”
“Aside from gold, we also have lots of other minerals and precious metals. Just imagine the prosperity that we have been missing all this time,” Barbers said. Barbers said that as of September 2016, there are about 40 metallic mines and 62 non-metallic mines operating in the country, and these mining companies have already committed P13.1 billion for the development of their host and neighboring communities under their Social Development and Management Programs.
Further, citing MGB’s 2016 data, Barbers said that the industry employs 236,000 workers in the country, with a 0.6 percent contribution to the country’s GDP.
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