Capitalists And Money

Philippines lifts nine-year-old moratorium on new mining projects

PRESIDENTIAL PHOTO/ KING RODRIGUEZ

MANILA – Philippine President Rodrigo Duterte has lifted a moratorium on new mineral agreements imposed in 2012, according to an executive order made public by the presidential palace on Thursday.

The executive order, which Duterte signed a day earlier, allows the government to enter into agreements for new mining projects and undertake a review of existing mining contracts and agreements for possible renegotiation of the terms, as it seeks to boost state revenues. — Reuters

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