Digging for profits: Who owns PH mines?


QUICK FACTS

Name of mining firm: AAM-PHIL Natural Resources Exploration and Development Corp.
Location: Basilisa and San Jose, Dinagat Islands
Mining area: 1,680.81 hectares
Metals extracted/mine products: Nickel and other associated mineral deposits
Nickel production: None reported for 2020 and 2019
Mining permit period: 2010-2035

 

OWNERSHIP

Incorporation date: Jan. 4, 2005

Stockholders: 
Kho, Kitson
Ngo, Francis Albert
Yap, Lorenzo
The Kho Group Philippines

President: Ngo, Francis Albert 

 

MINING REVENUE 

Current assets: P192.82 million (2019)
Current liabilities: P755.67 million (2019)
Ore sale: P147.96 million (2018)
Net income: -P33.88 million (2019)

 

STATUS OF OPERATIONS

In February 2017, then Environment Secretary Gina Lopez ordered the closure of 23 mines, including AAM-Phils Natural Resources and Exploration and Development Corp. No update on the status of the mining operations could be found. The results of a review by the Mineral Industry Coordinating Council have yet to be released as of writing.

 

COMMUNITY PROFILE

Municipality class of mining location: Basilisa, Dinagat Islands (4th class)
Population: 36,880 (2015)
Poverty incidence rate: 41.97% (2015)
Human Development Index: No data available
Municipality class of mining location: San Jose, Dinagat Islands (4th class)
Population: 27,487 (2015)
Poverty incidence rate: 36.19% (2015)
Human Development Index: No data available

 

IN THE NEWS

Factbox: Philippines recommends suspending 20 more mines after audit
Mine closures, suspensions affirmed
Suspended mining firms submit rehabilitation plans

 

Sources:

General Information Sheet, 2020
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.

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