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http://www.mb.com.ph/BSNS2006052464920.html

MANILA (XFN-ASIA) - Shares in Atlas Consolidated Mining and Development Corp rose after it said it expects its copper operation on the central island of Cebu to generate up to 3 bln usd in foreign exchange earnings over the next 12 years, dealers said.

In early trading, Atlas was up 0.50 peso or 7.04 pct at 7.60, on volume of 627,000 shares.
The company’s copper operation in the Cebu town of Toledo was shut down in 2004 because of the destruction caused by a typhoon and a slump in metal prices. The mine is set to resume operations next year.

Atlas president Alfredo Ramos said the Toledo operation will create 3,000 jobs and deliver ‘’millions [of pesos] in tax remittances'’ to the central and local governments.

http://www.mb.com.ph/MAIN2006052464869.html
By ELLALYN B. DE VERA

RAPU-RAPU, Albay — Environment and Natural Resources Secretary Angelo Reyes yesterday assured a thorough review of the Rapu-Rapu Fact-Finding Commission report submitted to President Arroyo last Friday, as he visited the R1.4-billion Rapu-Rapu Polymetallic Project in Albay to dialogue with the Australian mining firm Lafayette Philippines Inc. (LPI) and the community about the report’s recommendations.

Commission vice-chairman Charles Avila assured the mining company and the community that the commission’s duties are now over since the submission of the report and after six weeks of investigation.

Barangay officials near the Lafayette mining site had earlier appealed to the DENR to allow resumption of operations, claiming the company has benefited many residents in the area.
The municipality of Rapu-Rapu, meanwhile, had issued a resolution allowing the resumption of mining operations in the province. (more…)

By EDGARD HILARIO

The recommendations of Rapu-Rapu Fact-Finding Commission (RFFC) headed by Bishop Arturo Bastes yesterday drew the support of environmental groups, the Church, and legislators which also pressed for the permanent closure of the Lafayette Mining company.

“The recommendation to permanently close Lafayette mining, rehabilitate the local ecosystem, compensate mining victims, and impose moratorium in Rapu-rapu is a significant gain for the people’s struggle against mining plunder. For almost a decade now, we have been campaigning to assert these concerns,” said Trixie Concepcion, spokeswoman of Defend Patrimony (DP).
The DP is a broad multisectoral alliance campaigning against mining liberalization.

“The Commission report further strengthened our call to scrap the pro-foreign transnational mining corporations (mining TNCs) and anti-environment Mining Act of 1995. It resounded our call to stop all the destructive large-scale mining projects of mining TNCs in the country. There is a great possibility that the mining tragedy happening now in in RapuRapu will occur in other government priority mining projects, but they will not have as much projection as the Rapu-Rapu case.” (more…)

http://www.sunstar.com.ph/static/ceb/2006/05/24/news/firm.to.reopen.this.year.pays.p10m.to.toledo.city.html

The long-awaited reopening of Atlas Consolidated Mining and Development Corp. (ACMDC) in Luto-pan, Toledo City is set in six to 18 months and is expected to bring socio-economic benefits to the city and its constituents, the firm’s president and chairman, Alfredo Ramos, said yesterday.

“The mine will generate substantial foreign exchange earnings of up to $3 billion in the next 12 years. Furthermore, it will provide up to 3,000 new jobs in Toledo City and nearby areas, as we as millions in tax remittances to both the national and local governments,” Ramos said in a press conference.

Ramos, of the National Bookstore chain, handed to Toledo City Mayor Arlene Espinosa-Zambo a check for P10 million as part of the mining firm’s compromise agreement with the City Government to settle real property tax. (more…)