corp. mine prole: oriental vision mining philippines
TRANSCRIPT
March 31, 2021 | 12:00:00 AM
Mine pro�le: Oriental Vision Mining PhilippinesCorp.Oriental Vision Mining Philippines Corp. is one of 23 mining �rms ordered closed in February 2017 by theDepartment of Environment and Natural Resources under then Secretary Gina Lopez.
BY PHILIPPINE CENTER FOR INVESTIGATIVE JOURNALISM (PCIJ)
Digging for pro�ts: Who owns PH mines?
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QUICK FACTS
Name of mining �rm: Oriental Vision Mining Philippines Corp.Location: Tubajon, Libjo, and Cagdianao, Dinagat IslandsMining area: 2,314.20 hectaresMetals extracted/mine products: NickelMining permit period: 2007-2032Total manpower complement: 205
OWNERSHIP
Incorporation date: March 4, 2008
Stockholders:Eminent Fame International Ltd.Borja, Ferdinand S.Adnama Mining Resources Inc.Lorenzana, CarmenCrisologo, Allan L.Tuyac, Ulfredo A.Chen Fang
Chairperson of the Board: Chen Fang
MINING REVENUE
Current assets: P120.52 million (2018)Current liabilities: P271.09 million (2018)Revenue from sale of ore: P135.95 million (2017)Net income: -P104.23 million (2018)
STATUS OF OPERATIONS
In February 2017, former Environment Secretary Gina Lopez ordered the closure of 23 mines, includingOriental Vision Mining Philippines Corp.
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According to an October 2017 Interaksyon report, Oriental Vision was among the �rms in the Caraga regionthat had �led appeals and motions for reconsideration, which allowed it to operate in the meantime.
No update on the status of the mining company could be found. The results of a review by the MineralIndustry Coordinating Council have yet to be released as of writing.
IN THE NEWS
Lopez orders closure of 23 metallic minesDinagat village chiefs warn of bloodshed if mining enters their placeMining industry in limbo
Sources:
General Information Sheet, 2020Financial Statement, 2019List of existing Mineral Production Sharing Agreements, Mining and Geosciences BureauPhilippine Metallic Mineral Production, Mines and Geosciences BureauPoverty and socioeconomic indicators, Philippines Statistics Authority
Note: The Human Development Index is a measure of how well a country has performed, not only in terms of real incomegrowth, but also in terms of social indicators that measure people's ability to lead a long and healthy life, acquire knowledgeand skills, and have access to the resources needed to a�ord a decent standard of living. An HDI value below 0.550 isconsidered low and below 0.399 is very low. The national average for the Philippines is 0.718 as of 2020.
This article was produced with the support of Internews' Earth Journalism Network. — PCIJ, March 2021
Posted in: Mining, mining in the Philippines
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