Planned closure order vs Philex Mining opposed

Posted at 03/25/14 4:38 PM

MANILA, Philippines – The mayor of Tuba, Benguet Florencio Bentres is opposing plans by Itogon Mayor Victorio Palangdan to serve a closure order on Philex Mining.

Palangdan initially issued Philex a notice of closure on March 19 allegedly for failing to pay P2.2 billion in business taxes to both towns.

But Bentres said closing down Philex will not just affect their two towns but the province as a whole, given the income Philex brings in.

Philex has said an agreement was reached that it would just pay P200 million.

Philex added that it is not trying to delay the tax payment, but drafting the memorandum of agreement (MOA) required by Palangdan is taking time.

A previous MOA indicated a 50-50 sharing agreement between the two towns for taxes paid by the mining company. -- ANC