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Philippine mining fees up starting March 2013
All fees related to applications for mining activities are up starting next month, the Department of Environment and Natural Resources (DENR) said Friday, citing provisions of Executive Order No. 79 which President Benigno Aquino singed in July 2012.
The application fee for exploration permits will be raised to P300 per hectare from P60, but not less than P200,000 per application from not less than P50,000 per application, according to a notice the DENR published in Philippine Daily Inquirer.
The new fees will take effect 15 days after having been published, and covers all applications that are pending with the DENR and its attached agencies.
Other fees were also raised as follows:
Mineral Agreement—P300 per hectare but not less than P300,000 per application from P60 per hectare but not less than P50,000.
Financial and Technical Assistance Agreement (FTAA)—P300 per hectare but not less than P500,000 per application from P60 per hectare but not less than P100,000.
The department is also raising the capital requirements for mining companies.
The minimum authorized paid up capital for mining applications will be P100 million from P10 million, and the minimum paid-up capital to P6.25 million from P2.5 million.
For a company to go for an FTAA, which will be granted by President, it must have a paid up capital of P500 million before it registers with the Mines and Geosciences Bureau (MGB).
The mapping of no-go zones is not yet complete, however, and the DENR can issue new exploration permits only once the mapping is done. No-go zones are areas where mining activities are prohibited or restricted because the place is dedicated solely to agriculture and tourism activities or are protected areas.
That is why its important to ANALYZE the financials...where are the sales and profits? Its easy to lodge them in receivables as has been the old trick in the industry - set up dummies, dummies buy the units, voila, sales and profits rise! A company thats doing well will see a ballooning cash position - see Apple.
It's not a rumor. Many of the cream of the crop were already leaving the company.
"If you depend on the judgment of some other person, you are betting that he will be right."
Philippines economy: Quick View - Business sentiment remains positive
2013-02-26 23:15:51.166 GMT
Feb. 26 (Economist Intelligence Unit) -- According to the
business confidence index released by the Bangko Sentral ng
Pilipinas (BSP, the central bank) on February 22nd, the outlook
for the economy during the first and second quarters of 2013 is
The latest survey supports our view that the Philippine economy
will continue to perform strongly this year, after real GDP
expanded by an impressive 6.6% in 2012. The confidence index
stood at 41.5 for the current quarter (a positive number
indicates a favourable outlook for the economy), higher than the
figure of 40.5 in the first quarter of 2012.
However, businesses' outlook for the current quarter is less
optimistic than it was for the final quarter of 2012. This is
likely to reflect seasonal effects, including the usual slowdown
in business activity after the Christmas period. The BSP also
attributes the less optimistic outlook to the end of the
country's main rice-harvest season and the adverse effects of
Typhoon Pablo, which hit Mindanao in December.
Firms were more optimistic about the second quarter of this year,
with the index rising to 56.4. Survey respondents said that their
bullish outlook reflected an expected pick-up in business owing
to spending related to the May mid-term national and local
elections, as well as an anticipated rise in tourism during the
There were notable sectoral differences in the outlook for the
next quarter. Particular optimism was evident in the industrial
sector, the wholesale and retail trade sector, and the services
sector, reflecting better business prospects for firms in these
fields during the summer and the election period. The outlook for
the construction sector was less favourable, largely owing to a
ban on public construction work during much of the election
period (various bans are being put in place, with the aim of
reducing election-related violence and corruption).
Lexus Named Top Car Brand in Consumer Reports Rankings
2013-02-26 23:00:00.5 GMT
By Angela Greiling Keane
Feb. 27 (Bloomberg) -- Japanese car brands, led by Toyota
Motor Corp.’s Lexus, took the top seven spots in Consumer
Reports magazine’s annual quality rankings, as the top U.S.
brand placed 14th out of 26 in the ratings.
Lexus received the most points based on the scores of its
eight models, all of which the magazine recommends buying.
Parent-company Toyota’s namesake line tied for fourth place with
Honda Motor Co.’s Acura brand. Subaru, a unit of Fuji Heavy
Industries Ltd. that placed first among automakers last year,
was second and Mazda Motor Corp.’s Mazda was third.
Consumer Reports changed its ranking system this year,
breaking out brands instead of ranking automakers according to
collective scores for all their lines.
“We feel this is more in line with how people shop,” Rik
Paul, the magazine’s automotive editor, said in an interview
before the rankings were released yesterday at the National
Press Club in Washington.
Consumer Reports, published by Consumers Union, tests and
evaluates cars for how well they drive, interior-finish quality,
fuel economy and reliability. The rankings influence car buyers
and are published in the magazine’s annual auto issue.
Japanese brands combined to account for 36.9 percent of
vehicles sold last year in the U.S., according to Autodata
Corp., a researcher based in Woodcliff Lake, New Jersey.
General Motors Co.’s Cadillac, boosted by the CTS, was the
top U.S. brand, ranking 14th. The CTS was rated above-average
for reliability and called “as capable as its German rivals.”
The bottom six brands in the rankings were U.S.-based --
Chrysler Group LLC’s Chrysler, Dodge and Jeep; Ford Motor Co.’s
Ford and Lincoln; and GM’s Buick.
“The American automakers are getting better,” Paul said.
“As much as companies are improving, companies like Toyota and
Honda are still raising the bar.”
Chrysler accepted the criticism and said it’s working to
improve its vehicles.
“Although we are moving in the right direction, we’ll be
the first to acknowledge that we need to improve faster,” Doug
Betts, senior vice president for quality, said in an e-mail.
“We’re aggressively upgrading our product lineup. For example,
we’re already making significant investments to vehicles already
recommended by Consumer Reports -- Jeep Grand Cherokee and Dodge
Ford said it’s working on improvements to infotainment and
“In North America at the moment, J.D. Power and other
third-party results validate our own internal metrics showing
isolated areas for improvement -- primarily with MyFord Touch
and PowerShift automatic transmissions,” Wes Sherwood, a Ford
spokesman, said in an e-mail. “The good news is customers
already are benefiting from the updates we made to both
“Ford has had problems with reliability,” Paul said,
because the company’s infotainment system is difficult to use
and repair-prone. That fault “hits them twice” in rankings on
the road test and reliability, he said.
Cadillac’s in-vehicle infotainment system is “following
down the path of Ford and Lincoln,” Jake Fisher, director of
auto testing, told reporters yesterday. “It takes a long time
to do simple things.”
GM is making progress, Mike Hardie, the automaker’s
director of global quality strategy, said in an interview.
“There’s certainly a lot of work to do, but I do believe
we’re on a good track and we really want to score better,”
About 70 percent of GM’s product portfolio is turning over
in the next 12 months, Hardie said.
“We anticipate grand and glorious things in the future,”
Lexus earned praise for vehicles that are “generally
quiet, plush and very reliable, though they’re rarely sporty,”
the Yonkers, New York-based magazine said.
“When Consumer Reports recommends 100 percent of Lexus’
line-up, it speaks volumes about our dedication to building
high-quality luxury vehicles,” Mark Templin, Lexus group vice
president and general manager, said in an e-mailed statement.
Toyota sold 2.08 million cars and light trucks in the U.S.
last year, trailing only GM and Ford, as it expanded its Prius
hybrid lineup and its Camry midsize sedan remained the nation’s
best-selling car model.
Because redesigns of Chrysler’s Dodge Ram and GM’s
Chevrolet Silverado haven’t been tested, the magazine elected
not to make a “best pick” among all types of pickups this
year. In its place, Consumer Reports brought back the “budget
car” category, choosing Hyundai Motor Co.’s Elantra as the best
car for less than $20,000.
Honda’s Accord won the best pick for the midsized sedan
category, the top-selling vehicle class in the U.S. Volkswagen
AG’s Audi A6 was the best pick for luxury cars and Bayerische
Motoren Werke AG’s 328i was the best pick for sports sedans,
bringing German automakers back into the best picks list for the
first time in a decade.
“Audi has come a long way,” Fisher said. “Five years
ago, I never thought I would be talking about Audi and
reliability in the same sentence or even the same paragraph.”
Volkswagen, Europe’s largest carmaker, placed 16th in brand
rankings. The manufacturer has a target of overtaking Toyota and
GM to become the world’s biggest carmaker by 2018. Its U.S.
sales have been undeterred by poor reviews by Consumer Reports
of its Jetta SE sedan, which placed last in its category of
Deliveries of Volkswagen brand cars and SUVs surged 35
percent in the U.S. last year to 438,133, the best since 1973.
The division has more than doubled its market share since 2007,
to 3 percent from 1.4 percent.
PHILIPPINES DAYBOOK: Metro Pacific, Mining, Semirara, SM Prime
2013-02-27 22:47:21.880 GMT
By Ian Sayson
Feb. 28 (Bloomberg) -- The Philippines is reviewing
investment restrictions on sectors including mining, advertising
and education, Economic Planning Secretary Arsenio Balisacan
says in interview. For story NXTW NSN MIV9TX6K50XV <GO>
* Metro Pacific (MPI PM) holds media, analyst briefing on 2012
* SM Investments (SM PM) holds event for Park Inn Hotel
* Metro Pacific (MPI PM): May report 6.65b pesos in 2012
profit, according to average of six analysts forecasts
compiled by Bloomberg
* Trans-Asia (TA PM), DMCI (DMC PM), Semirara (SCC PM): Trans-
Asia, Sem-Calaca amends power contract, raising to 45MW from
15MW power Trans-Asia will buy from Sem-Calaca
* SM Prime (SMPH PM): Offers 195 basis points all-in for $200m
five-year term loan
* Philippine Stock Exchange Index down 0.2%
* Peso strengthened 0.1% at 40.713 a dollar
* MSCI Asia Pacific Index down 0.2%
* Dow Jones Industrial Average up 1.3%
Don Lucio Gold is venturing into drugstore chain staring from the south, through acquisitions
Siya na lang walang bank....hmmmm may be the up coming IPO of AUB is a starting point, eh best buddies pa sila ni Mr. Biscuit....
Last edited by miner on Thu Feb 28, 2013 12:07 pm, edited 1 time in total.
Alam ko Lang si Goks may interest in another drugstore chain isang bituin na may ningning since last 2H pa.
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