MICC probes 20 ‘dubious’ mining contracts

The interagency Mining Industry Coordinating Council (MICC) is investigating 20 firms that have entered into alleged dubious contracts approved by the former administration.

Finance Undersecretary Bayani Agabin told reporters recently that they had found extended mining contracts signed in June last year, or at the tail end of the Aquino administration’s term, which were deemed questionable.

“There were extensions given, for example, to a mining company with operations in Ilocos Norte, but the extension was applied to operations in Zambales. Or there was a copper-producing firm but the extension it secured was for nickel,” Agabin said.

“Our instinct said there seemed to be something wrong. We have to look further into it..look at the different circumstances. They were in different provinces, involved different minerals and all signed in June 2016. And it’s not only one—they’re 20 [contracts],” he added.

Agabin said there were also extensions granted to mining operations that had yet to start.

The Finance official said they uncovered these dubious contracts after someone referred them to the MICC.

Agabin refused to identify the companies concerned and the identity of the informant.

“We’ll look deeper into these and determine who are responsible,” Agabin said.

The contracts were with 20 “newer” companies that were not listed with the Philippine Stock Exchange, he disclosed.

Agabin said that since the MICC was a mere policymaking body, it could only look into these dubious contracts and raise its findings later to implementing agencies, including the Department of Environment and Natural Resources.