Duterte Threatens Miners With Tax as Ore Processing Favored
- Philippine leader says environment protection is paramount
- Lawmakers had ousted his activist-choice for environment post
Duterte delivers his state of the nation address in Manila on July 24.
Photographer: Noel Celis/AFP via Getty ImagesThis article is for subscribers only.
Miners bore the brunt of Philippine President Rodrigo Duterte’s annual address to congress as the tough-talking leader backed the local processing of metal ore and threatened mining firms with more taxes unless they increase efforts to protect the environment. Mining shares fell.
In his State of the Nation address before lawmakers on Monday, Duterte called on the industry to build plants that will process raw materials into finished products, signaling that he doesn’t favor exporting ores. He also placed an emphasis on protecting the environment, which he said is nonnegotiable, over mining revenues.