Business

According to officials from the mining inudstry, the Philippines's potential for growth in the sector remains good. In fact, BHP Billiton, the world's biggest miner, is interested in investing up to a billion US dollars in a nickel mine project in Mati, Davao Oriental, according to Benjamin Philip Romualdez, president of the Philippine Chamber of Mines. Romualdez said at the Asia-Pacific Mining Conference in Makati City this week that foreign companies have invested nearly $700 million in the Philippines in the past three years as a result, he said, of the Supreme Court's decision to uphold the Mining Act of 1997 that opened the industry to foreigners. But environmentalists, who protested the conference, have warned of environmental destruction. (Photo: arkibongbayan.org)