COMP calls for suspension of revised IP rules
MANILA, Philippines - The Chamber of Mines of the Philippines (COMP) is calling on the National Commission on Indigenous Peoples (NCIP) to suspend the revised guidelines in getting the consent of IPs to be affected by a mining project, citing such rules could discourage and lead to an outflow of investments in the sector.
In a statement yesterday, the COMP said that provisions of the revised guidelines on the free and prior informed consent (FPIC) could have a negative impact on mining investments in the country.
“A review of the revised FPIC guidelines reveal troubling provisions that will severely impact stability of the investment environment and further exacerbate the worsening outflow of foreign direct investments in mining,” the COMP said.
The COMP in particular expressed concern over the provision that requires the FPIC process for each major mining phase from exploration to development.
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