SANTIAGO CITY, Isabela (PIA) - - The Department of Environment and Natural Resources - Mines and GeoSciences Bureau (DENR-MGB),in partnership with various mining industry partners in the Cagayan Valley, highlighted the significant  gains on responsible mining projects to socio-economic growth within the mining communities in Cagayan Valley region .

“Even during the height of the COVID-19 Pandemic, mining projects in the region continued to operate and contributed to the economy of our country. It helped local government units and its host communities in hurdling the adverse effects of the pandemic,” said Engineer Mario Ancheta, DENR-MGB regional director for Cagayan Valley.

He said they have requested the Bureau of Internal Revenue (BIR) to provide a categorical report on the revenue contribution of the mining industry in the region.

Ancheta said these contributions will be reported in the next conduct of Mining Forum in Cagayan Valley to inform various stakeholders on the significant contribution of the mining industry.

Atty. Noel Neil Malimban, regional director of the Bangko Sentral ng Pilipinas (BSP) – North Luzon, said their Gold Buying Program (GBP) has contributed to the peso stabilization through the accumulation of gross international reserves, economic growth  and boosted foreign investor confidence in the country.

Willy Winston Fayloga, officer-in-charge – Area Supervisor of BIR) in Cagayan Valley, said mining projects have helped the national and local government units in generating taxes through the extraction of minerals.

“The mining industry  also generated  employment in the region which contributed to the revenue collection of the BIR,” he said.

These socio-economic contributions of the mining industry in Cagayan Valley have been reported during the conduct of the yearly Mining Forum at the Casa Jardin in this city, facilitated by the DENR-MGB and its partners in the mining industry. (OTB/BME/PIA NVizcaya)