Digging for profits: Who owns PH mines?


QUICK FACTS

Name of mining firm: Kromico Inc.
Location: Loreto, Dinagat Islands
Area: 757.12 hectares
Metals extracted/mine products: Chromite
Mining permit period: 2009-2034

 

OWNERSHIP

Registration papers not available.

 

MINING REVENUE 

Financial statements not available.

 

STATUS OF OPERATIONS

In February 2017, then Environment Secretary Gina Lopez ordered the closure of 23 mines, including Kromico. 

On Nov. 12, 2018, the DENR issued a resolution (1) partially granting the firm’s motion for reconsideration on the 2017 closure order; (2) suspending the operation of the company; and (3) directing the firm to do the following:

a. correct all violations and deficiencies; and

b. pay all fines and penalties immediately upon receipt of the resolution.

 

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

 

IN THE NEWS

DENR shuts down 21 mines in wake of an environmental audit

 

Sources:

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.