The Asean mining sector is expected to remain resilient despite the global financial crisis and feed regional growth to ensure stability in the region's economies.
- PHILIPPINE DAILY INQUIRER, October 14,2008
Local mining industry leaders and government officials expressed optimism in the mining sector as demand for minerals is expected to remain high. The president of the Chamber of Mines of PhilippinesPhilip g. Romualdezmsays that mining sector remains stable and strongest in this difficult situation because we produce commodities. He also stated that we are still experiencing good revenues from mining companies.
Despite the disorder occuring in the United States and Europe, I do hope that emerging and developing countries would be least affected by this problem and would continue to grow. I believe that the mining sector would indeed stay firm because minerals are basic building blocks of infrastracture. We will continue to build and put up establishments, buildings and houses etc... For me, this is good news. it's a good thing that we still have the mining sector staying strong because this is good for our economy and it would attract potential investors. Although the target $ 10B investment has been moved to 2012, at least our economy has something good to look forward to. I hope that our mining industry would continue to prosper so as to give hope to our not-so-good economy.
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Despite the negative economic growth, knowing that we still have the mining sector going strong and firm, it is actually something we can look forward to. I hope that this will help boost up our economy, since it may also attract new investors. Having the mining industry still at hand, it will employ more workers, thus reducing the unemployment rate.
I think my professor in Econtwo pointed out to us that Minining is one of the best businesses to invest in 'cause minerals like, gold and silver, given that the supply and the demand meets at a certain good price point, would remain to sell good especially at times of recession like what the global community experiences today.
So, no doubt it will stay strong. ^_^
I couldn't agree more. It is good news, having our mining industry going head to head with other lucrative industries. BUT I'm thinking, if the time comes that our mining industry already got all the investors that it wants...would we still have a grip on our MINERALS? Would we still benefit from it?
I hope so.
I think this really is a good news to all of us. Basically, I think the mining business would really be our strongest weapon against the crisis that we are facing today. Although we shouldn't keep our hopes up because there are many illegal minings here in our country. If we don't do anything about it, those greedy miners would get all the benefits and money to themselves.
Nevertheless, I hope that our mining business would continue to prosper and that our minerals and jewels are used properly.
It's nice to know that amidst of global financial crisis, the mining sector is doing well. But with the abundant of natural resources in the Philippines, I hope government will invest heavily in the mining sector because i always feel sad when instead of filipinos heavily benefiting from their own natural resources, its the foreigners who actually earn a lot from our OWN resources.
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