What responsible mining can do: Supporters argue the benefits of responsible mining to economy
Mining can unleash considerable wealth that can tap vital resources and fuel a country’s development and economy if done in accordance with the law, with the support of the government and surrounding towns, and with full respect of the environment. According to experts, this possibility holds true for the Philippines, the 7,107-archipelago in Southeast Asia which recently garnered international attention because of a United Nations tribunal ruling that recognised its authority over the West Philippine Seas.
Philippine Star columnist Carmen Pedrosa pointed out in June the barely tapped wealth lying under its mines, which its more than 100 million inhabitants may not even be aware of:
“ With its long history and experience in mining, it has demonstrated its very rich potential for copper, gold, nickel, chromite and other metallic minerals through the commercial operation of numerous mines. It is also abundant in non-metallic and industrial minerals such as marble, limestone, clays, feldspar, rock aggregates, dolomite, guano and other quarry resources. The Philippine minerals industry is currently an industry below US$1 billion (AU$1.3 billion) in annual sales similar to Malaysia and Papua New Guinea, but lagging behind Indonesia (US$3.6 billion), Chile (US$13 billion) and Western Australia (US$26 billion).”
What has empowered several members of the mining community to rise is partnership with foreign companies that have the necessary funding, infrastructure and technical equipment to guide the locals, especially the miners and employees, to bring out the minerals from the earth efficiently and consistently, without damaging the surrounding environment.
One such company is AIM Exploration Inc. (OTCQB: AEXE), which partially owns the Paladino Mining and Development Corporation in the Philippines, a subsidiary that is focused on the mining, development and production of feldspar. Feldspar is a non-mineral element that is in high demand for its uses in construction, glassware and ceramics.
Leading companies in the region like Asia Breweries have issued statements that they are looking forward to acquiring 500 tons a month. Royal Tern Ceramics is another customer.
AIM and Paladino have also partnered to further expand the uses of feldspar. Research being conducted by the Polymer Research Laboratory, which is based in the University of the Philippines, is also studying if feldspar can be used to as commercial fillers for other vital industry products like rubber and plastic. The results have been promising.
“This latest news is very exciting for our shareholders, and is the result of the hard work and efforts of our team on the ground in the Philippines. This also demonstrates our diversity of revenue and income streams, and we will serve our company well, as we continue to move forward in 2016,” AIM CEO R. (Bob) Todhunter said.
As some experts have deduced, the country shouldbe able to reap the benefits of mining if done responsibly. President Rodrigo Duterte has issued a statement recognising that responsible mining “plays a key role in the Philippines.” According to the Philippine Star, the current administration is “committed to promoting a robust and dynamic economy with every sector contributing to its growth.”
Finance Secretary Carlos Dominguez II reiterated that the new administration will support “responsible mining” and will not even ask the mining industry for a greater share of the revenue as a sign of that support.
“Our mining practices, done our local partners, pass international standards and always respects the laws of the country,” affirmed Todhunter. “We just don’t ‘jump in and dig.’ Preparation is key to our preparation. We take a long time to study the places where we will do our mining. We talk to the locals and understand their concerns.”
He reiterated that they honour the country’s ecosystem, making sure their practices and techniques would not damage it. Locals also lead the research on feldspar, and therefore they have a stake in its development.
AIM Exploration Inc. mines, refines and develops feldspar, as well as anthracite coal. Its Nevada headquarters has operational offices in the Philippines and operates as a junior mining company focusing on global mining and exploration. The company currently has two existing projects: a 40 percent interest in a Feldspar mine located in the Philippines and an Anthracite coal project located in Peru.
The Feldspar mine is currently producing and is undergoing upgrades for expanded production. The operation is controlled in a Joint Venture with Paladino Management & Development Corp. The Anthracite Coal project AIM owns and controls through its wholly owned subsidiary Aim Exploration Inc. is considered to be a high grade Anthracite Coal mining property in the Alto Chicama basin, in the province of Otuzco in Peru. Aim SA acquired these rights by purchasing these assets from Percana Mining Corp (Percana SA), a Peruvian corporation.
