Philippines announces more mine suspensions

Last Modified: Wed Sep 28 2016 10:31:00 GMT+0530 (India Standard Time)
  • 20
    more mines have been recommended for suspension by the Philippines’ Department of Environment and Natural Resources (DENR), as part of its nationwide audit aimed at tackling environmental violations.
  • 10
    mines on which DENR had already asked for a moratorium, most of them nickel operations, after it found they had inadequate mining practices and a lack of proper siltation prevention facilities, were carrying out technical violations, and were not complying with planned social development efforts.
  • 56%
    of nickel production in the country will be impacted on account of the mines recommended for suspension, together with those already shut. Philippines is the world's top supplier of nickel ore.
  • 2%
    jump in prices on the London Metal Exchange to $10,705 a tonne following the announcement.