Importance Of Mining In The Philippines
CHAPTER THREE
Development of the Philippines’ Mining Regulatory Framework
The role of the mining industry in the development of the Philippine economy has been significantly significant . Being a highly mineralized archipelago, traditional mining and metallurgy were important subsistent activities in the lives of Filipino natives since the prehistoric times . Different minerals were also regular items in trading between Filipinos and other nationalities, particularly raw gold.
With the coming of the Spaniards in the country in the 16th century, mercantilism or building wealth from abroad, became a guiding policy . This resulted to stockpiling of precious metals and exploration of mining areas. The Spaniards failed to penetrate the gold-mining and it became indigenous until the coming of the Americans. Although the Spaniards did not have the determination or capability to develop the local mining industry, the Philippine mineral production and trade still propelled with the introduction of liberal economic policies, the opening of Manila to world trade, and the operation of the Suez Canal in the 1800s.
The Royal Decree of 1837 became the first effective mining law in the Philippines. It was created for the purpose of administering all mining activities in the country. Also, the Lepanto mine which produces copper and gold opened in 1864.
In 1898, the Treaty of Paris was signed concluding the end of the Spanish era and the beginning of the American regime. America, at that
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