Digging for profits: Who owns PH mines?


QUICK FACTS

Name of mining firm: Ore Asia Mining and Development Corp.
Location: Doña Remedios Trinidad, Bulacan
Metals extracted/mine products: Iron ore

 

OWNERSHIP

Incorporation date: April 18, 2006

Stockholders:
Ong, James G.
Bulandi, Joannah C.
Ong, Anna Katrina S.
Bee, Go Young
Baldemor, Jocelyn V.

Chairperson of the Board: Ong, James G.

 

MINING REVENUE

Current assets: P23.55 million (2019)
Current liabilities: P160.31 million (2019)
Total revenue: Not specified but account receivables amounted to P19.713 million (2019)
Net income: -P1.45 million (2019)

 

STATUS OF OPERATIONS

In February 2017, then Environment Secretary Gina Lopez ordered the closure of Ore Asia Mining and Development Corp. and 22 other mines.

On Nov. 12, 2018, the Department of Environment and Natural Resources under Secretary Roy Cimatu denied the mineral production sharing agreement application of Ore Asia Mining and Development Corp.

 

COMMUNITY PROFILE

Municipality class of mining location: Dona Remedios Trinidad (1st class)
Population: 22,663 (2015)
Poverty incidence rate: 18.9% (2015)
Human Development Index: 0.74 (2012, provincial)
Indigenous peoples living within or near the mining location: Dumagat

Dona Remedios Trinidad is the biggest municipality in Bulacan in terms of land area. Of the town’s land area of 93,297.97 hectares, “reserve areas” accounted for 65%, including 43,728 hectares of the Angat Watershed Reservation, 9,032 hectares of the Bulacan Forest Reserve, 5,695 hectares of the San Miguel Forest Reserve, and 2,114 hectares of the Biak-na-Bato National Park.

 

IN THE NEWS

DENR suspends operations of iron ore mine in Bulacan
Three mining firms to be closed

 

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
Social Development and Management Program
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.

This article was produced with the support of Internews' Earth Journalism Network.