Digging for profits: Who owns PH mines?


QUICK FACTS

Name of mining firm: Marcventures Mining and Development Corp.
Location: Cantila, Surigao del Sur
Mining area: 4,799 hectares
Metals extracted/mine products: Nickel
Nickel production (2020): 1,027,405 dry metric tons (direct shipping ore) valued at P1,658,880,078
Mining permit period: 1993-2027

 

OWNERSHIP

Incorporation date: Jan. 18, 1995

Stockholders: 
Marcventures Holdings Inc.
Zalamea, Cesar C.
Alcantara, Isidro Jr. C.
Te, Anthony M.
Santos, Rolando S.
Dy, Daniel Oliver T.
Tiu, Arturo L.

Chairperson of the Board: Zalamea, Cesar C.

 

MINING REVENUE 

Current assets: P587.29 million (2018)
Current liabilities: P2.28 billion (2018)
Total revenue: P987.26 million (2018)
Revenue from sale of nickel ore: P987.26 million (2018)
Net income: -P262.93 million (2018)

 

STATUS OF OPERATIONS

In February 2017, then Environment Secretary Gina Lopez ordered the closure of Marcventures Mining and Development Corp. and 22 other mines. No update on the status of the Marcventures’ mining operations could be found. The results of a review by the Mineral Industry Coordinating Council have yet to be released as well as of writing.

 

COMMUNITY PROFILE

Municipality class of mining location: Cantilan, Surigao del Sur (2nd class)
Population: 31,492 (2015)
Poverty incidence rate: 28.6% (2015)
Human Development Index: 0.55 (2012, provincial)
Indigenous peoples living within or near the mining location: Manobo

 

IN THE NEWS

Samar guv reaffirms stand against mining
Cantilan declared "no mining town"
Marcventures Mining responds to articles on environmental harm

 

Sources:

General Information Sheet, 2020
Financial Statement, 2019
List of existing Mineral Production Sharing Agreements, Mining and Geosciences Bureau
Philippine Metallic Mineral Production, Mines and Geosciences Bureau
Poverty and socioeconomic indicators, Philippines Statistics Authority

 

Note: The Human Development Index is a measure of how well a country has performed, not only in terms of real income growth, but also in terms of social indicators that measure people's ability to lead a long and healthy life, acquire knowledge and skills, and have access to the resources needed to afford a decent standard of living. An HDI value below 0.550 is considered low and below 0.399 is very low. The national average for the Philippines is 0.718 as of 2020.

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