A macroeconomic critique of the mining industry in the Philippines.

Abstract

Mining is the key component for the start of industrialization. It is an essential part in the development and growth of a society. Mineral resources are used by all of us in our daily lives. Without these, we would not be able to wear clothes, use gadgets for long distance communication, no laptops, houses, cars and other things that are made up of mineral resources. Almost all of the things that we use are made up of mineral resources thus it is important to study the mining sector of a country. The Philippines is geographically rich in natural resources and biodiversity this is why there are a lot of issues and concerns with regards to the impact of mining process in the country. Mining is perceived by many as a threat to our surroundings and to the community, yes it is true but it also generates jobs and contributes to the growth of the country. In this study, it will review the impact of the mining industry to the economy and how much really does it contribute to the GDP, employment, investments and exports of the country. Mining process is not only done by the private corporations but the government has the responsibility to regulate and control it. This study also analyzed the different classifications of mineral resources and the potential of the country to extract minerals. Lastly, it also discussed some issues and concerns especially the impact of mining to the environment and to the community as well.