RP to benefit from Busang hoax<\/p>\n
MANILA (AFP): The Philippines expects to lure foreign mining
\nfirms following revelations that the world's biggest gold find in
\nIndonesia is a hoax, a senior government official said yesterday.<\/p>\n
\"What it vindicates is the kind of transparency of the
\ndecision-making process we follow here,\" said Environment and
\nNatural Resources Undersecretary Antonio La Vina.<\/p>\n
\"The chance of a fiasco like that in Busang to happen (in the
\nPhilippines) will be nil,\" he said.<\/p>\n
He said mining legislation passed by congress in 1995 had
\nsufficient safeguards, including strict disclosure requirements,
\nto prevent fraud such as tampering with geological data.<\/p>\n
The mining industry was stunned Monday when independent
\nanalyst Strathcona Minerals revealed that the world's supposed
\nrichest gold field discovered by the Canadian mining firm Bre-X
\nMinerals Ltd. at Busang in Indonesia was a hoax.<\/p>\n
The mysterious death in March of Bre-X's chief geologist at
\nBusang, Philippine national Michael de Guzman, has added to the
\ncontroversy. De Guzman was said to have jumped from a helicopter
\nin an apparent suicide, but family members suspect foul play.<\/p>\n
\"We would like to stress that we still have full trust in the
\nFilipino geologists here and abroad, in their integrity, skills
\nand technical competence since there is no proof whether
\ngeologist Michael de Guzman took part in the fraud,\" La Vina told
\nreporters.<\/p>\n
\"I don't know if the geologists abroad, especially in
\nIndonesia, are demoralized but we leave it to the Indonesian
\nauthorities to look into the alleged involvement of De Guzman in
\nthe hoax,\" he added.<\/p>\n
The Philippines has approved the applications two large
\nAustralian mining companies -- ARIMCO and Western Mining Corp. --
\nto explore in the country since the law was passed two years ago.<\/p>\n
Some 120 other applications are still pending with the
\nEnvironment and Natural Resources Department after processing was
\nsuspended last year pending some amendments to the mining law.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/rp-to-benefit-from-busang-hoax-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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