Mining can spur business growth, employment

MANILA, Philippines - The National Economic Research and Business Action Center (NERBAC) Region 12 consider s the mining industry as a big generator of business possibilities and employment opportunities in Mindanao.  

NERBAC 12 Officer Vanessa Plene cited 10 local and multi-national mining companies in the region – the biggest of which is Sagittarius Mines Inc. (SMI) that manages the $5.9-billion Tampakan copper-gold mining project â€“ as centers for job generation and business oppoertunities. of the government under a financial and technical assistance agreement (FTAA).

According to Plene, aside from the jobs generated by SMI when it begins operating, business opportunities in support of the company also hold great economic promise for private businessmen and even small scale entrepreneurs.

Earlier studies show the Tampakan project has the potential to create 8,000 jobs during the mine construction phase and over 2,000 during operation. An additional 2,000 jobs are may also be up port, power station and filter plant construction.

Plene also identified four small scale businesses that could bloom in support of mine operations. These are  rag making, T-shirt production, hog-raising and vermi-culture or vermicast production.

The NERBAC officer said Rag making and T-shirt production alone is expected to generate as much as P11,000 to P21,000 monthly income. This income bracket is considerably higher than the current average monthly income rate in the province. On the other hand, hog-raising and vermicast production are support businesses to the food production sector that is expected to boom once workers flock to the region, boosting demand for food.

These businesses are expected to generate a combined income of approximately P400,000 monthly and these could generate as much as 20 direct jobs and twice the number of indirect secondary jobs resulting to higher employment rate, increased family income, and revenue in terms of taxes for the local government.