Mining

In spite of its vast reserves of minerals, the mining sector is currently only a modest contributor to the economy due to a range of factors that have impeded development. All told, approximately 14.5bn tonnes of metallic minerals (including gold, copper, iron, chromite, nickel, cobalt and platinum) and 67.66bn tonnes of non-metallic minerals, such as sand and gravel, limestone, marble, clay, and other quarry materials lie waiting for the turn of the shovel. Between 2011 and 2012 mineral exports recorded a fall due to a decline in market prices and lower production linked to temporary mine closures. Yet, even with the slow pace of progress being made, there remains hope that the government’s recognition of the sector’s importance will help drive it forward. This chapter contains an interview with Eulalio B Austin Jr., President & CEO, Philex Mining Corporation.