I wish to thank the organizers for giving me this opportunity to be a part of this event. Indeed, after two days and several sessions of presentations, you must be inundated with vast new information on the Philippine Mineral Industry, some international experiences, the strategies for its development touching on three most important aspects such as economic, social and environment. It would seem that I am left with a challenge to give you words of inspiration for my closing remarks.

The Philippine Mineral Industry Roadmap, which was crafted by a group composed of representatives from the Board of Investments, Mines and Geosciences Bureau, Chamber of Mines of the Philippines, Natural Resources Development Corporation and Crew Minerals, Inc., provides a glimpse of the potentials of the industry for economic development in terms of investments, exports, employment, government revenues, and socio-economic contributions especially in the rural and remote areas of the country.

I could say that the country is indeed ripe for the development of its mineral industry. We have one of the best mining laws in the world containing pioneering provisions, which ensure the rights of indigenous peoples and the protection of the environment. The Philippines holds world-class reserves of gold, copper, chromite and nickel and its competitiveness as shown in the 80’s when we are among the world’s top producers of these minerals.

It is a bit unfortunate that the development of the industry was stalled by events and issues raised on the constitutionality of the Mining Act and its Rules, and the legacies of some mining incidents. These brought about the shifts of foreign mining investments to Asia, Central American countries and other locations where business environment on mining is relatively stable.

Mining is a capital-intensive undertaking, which requires huge investments and where foreign investors and capital play major role for its development and operations. It can be gleaned from our mineral reserves that at full development of our mineral industry, exports of our minerals and processed mineral products could surpass the figures of our current major commodity export winners such as electronics and garments.

President Gloria Macapagal-Arroyo has been consistent in her Administration’s support to mining. This policy was again reiterated recently. The policy shift “from tolerance to active promotion of mining operations” aims to enhance economic growth through the generation of wealth from the abundant mineral resources of the country integrating the principles of sustainable development such as environmental protection, social and economic developments.

The DTI, together with the DENR, through the Joint Memorandum Circular No. 2003-02, have established a Mining Investments Assistance Center, which will facilitate transactions of mining investors with the government. What I would like to see is a Center that is truly responsive to the concerns raised by mining investors.

I understand that extensive consultations on mining were made in various regions in the country. The reports from these consultations would account all issues and concerns raised by various stakeholders. It is now quite apparent that the development strategies and action plans should be set up to provide a clear roadmap for the industry. The roadmap, besides its vision and objectives, should address all concerns relating to economic, social and environment. It is only through this process that the industry could attain its full potential as a major pillar of the country’s economic development.

This is not a simple task considering what the industry has gone through up to this time. But I believe in the industry. I believe that is our best chance to lift us from this economic doldrums. And I believe that we can only fulfill our vision for the industry if all us the stakeholders will perform our roles truthfully and unselfishly.