Mining may be a shared venture with gov’t – DrilonSenate President Franklin M. Drilon sought yesterday congressional approval of his bill that would introduce a new fiscal regime and revenue sharing arrangement between the government and mining contractors for large-scale metallic mineral mining operations in the country. Senate PresidentFranklin M. Drilon PHILIPPINESenate PresidentFranklin M. DrilonThe Drilon bill states that “the State shall get a fair and equitable share of the revenues and economic benefits derived from the mining resources. 225 or the Philippine Fiscal Regime and Revenue Sharing Arrangement for Large-Scale Metallic Mining Act, Drilon said the government would get either 10 percent of gross revenue or 55 percent of adjusted net mining revenue (ANMR), whichever is higher. If the contract area is in an ancestral domain, however, the royalties for the indigenous cultural communities shall be taken from the government share, the bill explained. Under Senate Bill No.

Source: Manila Bulletin July 18, 2016 14:03 UTC