Mining Companies

Mining companies gain the most on this year (2010). Precious metals prices are at all time high. This brings profit to the coffers of these mining companies. Philex and Nickle Asia definitely has a good year. These are the two giants in mining industry. I think next year will still be a profitable year for them as emerging economies like Brazil, India and China will need metals to sustain their infrastructure requirements brought about by economic spike.


Now, the hurdles that these mining companies need to overcome is the threat of NPA attack. This element which tax businesses in mostly rural areas are asking for 15 to 20 million pesos as protection money. According to the report - some mining companies threaten to pullout of the country if this problem will not be resolved by the government. This is definitely a bad thing. This is bad for our country. This is bad for JAP :-)

The government should have a hard look at this decade old problem. It is now time for both parties to come to the table and discuss how to end the conflict which devastated our country for decade now. If it is really for the interest of the people - then, it is a high time for them to work on the common ground and help each other achieve a long lasting peace for our country.I have not read or hear any concrete plan from the government how they will tackle this problem. This is the same on the part of the NPA. I hope this time they will be able to find a common ground to work on.
As the government - I believe that they should be doing more than putting people in government position. If those who are tasked to regulate mining sector are doing their job - then there will be less happy people.  We have problems in the past where mining companies did not give just  compensation to affected families when their mining companies poisoned our rivers and land. If these government officials are doing their job - I believe there will be no reason for NPA to ask for protection money (they say to give it back to affected communities). If these companies left the country - we Filipinos are the losers here.  When the money goes, the jobs goes with them as well.

Oh holiday spirit - you make me emotional.


I did not buy any stocks today. I think I might buy some tomorrow. I still don't know if it is AGI or MPI. Although, I am more keen on buying MPI.