Philippine Mineral Reporting Code (PMRC) 111: What’s in it for the Philippines Forum
On April 29, 2021, XPERTO hosted the Philippine Mineral Reporting Code (PMRC) 111: What’s in it for the Philippines Forum, as organized by the Philippines Mineral Reporting Code Committee (PMRCC)
The said forum featured representatives from the media, both local and foreign investors, government officials, finance & mining executives, and lawmakers who elaborated on the lifting of the moratorium on mining tenements. Key individuals were present in the form such as the likes of:
- Gerard H. Brimo, Chair: Chamber of Mines of the Philippines,
- Ciceron A. Angeles Jr: Chair of PMRC
- Attorney Dennis A. Quintero: Chair of Philippines Australia Business Council
- Attorney Roel A. Refran: COO of the Phillippine Stock Exchange (PSE)
- Martin Antonio G. Zamora: President & CEO, Nickel Asia Corporation
- Attorney Wilfredo G. Moncano: Director, Mines and GeoSciences Bureau (MGB)
- Joey Nelson R.Ayson: President, Phillippine Mining & Exploration Association
- Armanda L. Malisce: Past President, Phillippine Society of Mining Engineers
The roster of guests was able to share their invaluable insights on (1) the PMRC; (2) how the Securities and Exchange Commission (SEC) & Philippine Stock Exchange (PSE) relates to PMRC 2007, and; (3) the PSE implementation of the PMRC.
During the forum, Ciceron A. Angeles Jr. and other industry leaders expressed their confidence that the Securities and Exchange Commission (SEC) will approve the proposed improvements from PMRC 2007 to PMRC 2020 in reporting policies of mining firms which they said can encourage expansion plans while preventing frauds like “Busang”.
Once approved, the PMRC committee will be a step closer to becoming a CRISCO member, which, in turn, will set the stage for reciprocity with all major international reporting codes and national reporting organizations to not only protect mining investors but all stakeholders. Dennis A. Quintero, Chair of the Philippines Australia Business Council, also discussed the reporting requirements to SEC and PSE in relation to the current version of the current PMRC version 2007. The aim was to also place the PMRC in the context of the current and future impact on the Philippine economy.
Attorney Roel A. Refran, COO of the Philippines Stock Exchange, shared about the PSE implementation of PMRC 2020. In closing, Martin Antonio G. Zamora, President & CEO of Nickel Asia Corporation, and Attorney Wilfredo G. Montano delivered messages from the Mines and GeoScience Bureau (MGB) industries respectively.