TVI.TO
PHILIPPINES PRESIDENT SAYS “THANK YOU TVI”
• TVI CEO received by Philippines President
• President recognises TVI’s commitment to the Philippines
• TVI commits to new exploration activity at Canatuan and elsewhere in
the Philippines
TVI Pacific Inc. (the “Company”) is pleased to report that
Philippines President Gloria Macapagal Arroyo graciously made the time,
on Friday, February 4, 2005, to receive TVI President and CEO Clifford
James in a private meeting, which occurred in conjunction with the
Philippines Mining 2005 “Open for Business” Conference held in
Manila February 2 to 4, 2005.
The President thanked TVI for its longstanding commitment to the
Philippines, persisting with its investment projects at Canatuan and
Rapu Rapu even during the difficult times prior to the Philippines
Supreme Court ruling of December, 2004, which validated the Philippines
Mining Act and the participation of foreign-owned companies in the
country’s mining sector.
Mr. James noted that Canatuan is the first new, modern, foreign-financed
and operated mine to be developed in the Philippines in recent years.
The President acknowledged that it is a model for more mining
development to come in the future.
More than 260 delegates, an unexpectedly large number, attended the
Conference, which was hosted by the Philippines Chamber of Mines with
the support of the Office of the President. The success of the
conference signals a resurgence of interest in the Philippines by the
international mining industry, in response to the December 2004 Supreme
Court ruling.
The President assured TVI that she and her Government would take all
measures they could to support TVI and to resolve any problems
encountered with local administrations and civil society. This
commitment is consistent with the repeated statements by her Cabinet
Secretaries at the conference, that the Government would streamline the
administrative process and proactively lead Local Government Units to
support the national policy to develop mining.
Mr. James advised the President that in keeping with its commitment to
the Philippines, and reflecting its confidence in the minerals future of
the country, TVI expects to initiate additional exploration in the
Canatuan area in the near term. TVI believes that there is potential
for further discoveries on strike with the Canatuan orebody, which could
create a long-term mining camp in the region and spur significant
economic development for a depressed area of the country.
In addition, Mr. James advised President Arroyo that TVI has filed
applications for new exploration ground in the Zamboanga Peninsula, and
plans to again pursue exploration on the other properties in its
inventory, now that the Court decision has clarified the title of
foreign-owned companies.
The Canadian Ambassador to the Philippines, Mr. Peter Sutherland, who
accompanied Mr. James to the meeting with President Arroyo, emphasised
the strength of Canadian mining companies in environmental management
and social development, especially with regard to indigenous peoples.
The President stated that she believes the majority of the people of the
Philippines support her policy to reinstate mining as the engine of
economic recovery and growth for the country. She also pointed to the
parallel conference on Responsible Mining and Sustainable Development
that she had sponsored on February 3rd at the Presidential Palace for
civil society and non-governmental organizations. This conference and
other initiatives are helping to educate opposition groups as to the
benefits of economic development in general and development through
mining in particular.
In this context, Mr. James briefed the President on the employment
benefits associated with the Canatuan Project as well as its many
Community Development achievements. He reviewed the support TVI is
receiving from the Canatuan Indigenous People for the health, education
and sustainable livelihood benefits they are enjoying as a result of its
mining development investment.
“It was a most rewarding and gratifying meeting with the President,”
commented Mr. James. “She clearly recognises the important
contribution that TVI has made, both in regard to leading the
development of the mining sector in the country and to the social
benefits derived from responsible mining.”
