Govt suspends 4 mining firms, says DENR's Lopez

ABS-CBN News

Posted at Jul 08 2016 10:38 AM

MANILA – Environment and Natural Resources Secretary Gina Lopez said Friday she suspended four mining companies as she cracked down on firms that don’t comply with environmental safety standards.

BenguetCorp Nickel Mines Inc., Zambales Diversified Metals Corp., LNL Archipelago Minerals Inc. and Eramen Minerals Inc. were suspended also because of separate writs of kalikasan issued by the Supreme Court, Lopez said.

Lopez said the four companies were accused of “environmental degradation, denudation of forests and lack of funds for progressive rehabilitation.”

“They need to get their act together,” Lopez told ANC’s “Market Edge with Cathy Yang.”

“Business interest must operate within the principle of the common good. You can’t earn money by causing suffering, its not good, it’s not within the law,” she said.

Asked if more suspensions were forthcoming, Lopez said: “It depends on the audit. We’re just following the law.”

The mining sub-index fell 1.21 percent in early trading on Friday. The main index was up 0.24 percent to 7,772.32 points.