Digging for profits: Who owns PH mines?


QUICK FACTS

Name of mining firm: Oriental Synergy Mining Corp.
Location: Loreto and San Jose, Dinagat Islands
Mining area: 648 hectares
Metals extracted/mine products: Nickel
Period: 1992-2017

 

OWNERSHIP

Incorporation date: Nov. 24, 2005

Stockholders: 
Tan, Vicky P.
Agua, Liza Fe
Tan, Richard
Chen Xing
Lin Yi Ru
Chen Yi Hong
Nie Rui

Chairperson of the Board: Tan, Vicky P.

 

MINING REVENUE 

Current assets: P36.65 million (2019)
Current liabilities: P151.69 million (2019)
Sales: P128.37 million (2019)
Net income: P8.56 million (2019)

 

STATUS OF OPERATIONS

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

On Nov. 12, 2018, the Department of Environment and Natural Resources under Secretary Roy Cimatu ordered the permanent closure of Oriental Synergy Mining Corp. and Claver Mineral Development Council for non-compliance with environmental laws. The DENR also denied the application for a mineral production sharing agreement of another firm, Ore Asia Mining and Development Corp.

 

COMMUNITY PROFILE

Municipality class of mining location: Loreto, Dinagat Islands (4th class)
Population: 9,309 (2015)
Poverty incidence rate: 36.6% (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

DENR’s closure orders questioned anew
Cimatu orders closure of two erring mining companies

 

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.

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