MANILA, Philippines - Malacanang said yesterday it would come up by the end of this month with an executive order on a unified mining policy that address the concerns of local and international investors.

Executive Secretary Paquito Ochoa Jr. told reporters they were not considering the establishment of a mining commission but would like national and local mining policies to be harmonized.

President Aquino had earlier assured foreign investors and businessmen his government would put an end to the regulatory conflicts at the national and local government levels over mining policies.

Aquino said the committee, consisting of experts from the Cabinet, already submitted a preliminary report that was now being circulated to the different departments for their comments.

The President said the government would make sure the environment and ecology would be protected while the gains of the mining industry would be maximized at the same time.

Julian Payne, president of the Canadian Chamber of Commerce of the Philippines, said in a report he was sure big mining companies would be keenly awaiting the issuance of the new mining policies and what would be covered.

He said the new policies should address three major concerns: the inconsistent regulations at the national and local government levels, the slow remittances of mining royalties from the national government to the municipalities and provinces that are hosting mining operations, and the problem with illegal small-scale miners.

Payne said investors are currently being held back by the wave of local ordinances that were contrary to the provisions of the Mining Act of 2005, particularly the ban on open-pit mining.

Payne said investors could not just take the risk of spending millions of dollars for explorations and initial operations just to be stopped later by actions of the local government units.

Payne said big mining investors were sure to conduct their operations responsibly, so the groups that were opposed to mining should train their sights on the illegal small-scale miners.

Ochoa told reporters in an ambush interview in Malacañang they were working on the EO that would balance the concerns of all sectors.