PRIVATE mining companies in the Philippines have urged French and British investors to explore the mining industry in the country as they presented information on the business opportunities at the recent high-level delegation in Paris, saying the Philippine economy has grown stable since the Asian crisis in 1997.

Philippine Ambassador to France Jose Abeto Zaide reported to the Department of Foreign Affairs (DFA) on Tuesday that a high-level delegation from several Philippine mining firms made a presentation in Paris on the business opportunities at the Philippine mining industry before an audience of around 40 businessmen from France and London.

The companies that joined the high-level delegation include Atlas Consolidated Mining, Rusina Mining and Metals Exploration, where they made the presentation at a posh restaurant in Paris near Champs Élysée. James Stratton of Phildevco Innovations Corp. and Bernard Siou organized the mining-investor presentation.

“The presentation was intended not only to introduce the investing institutions to these excellent companies, but also to demonstrate to the potential investors that the Philippines has greatly changed since the Asian crisis, and is now attracting the attention of the international investment community,” said Straton in a statement issued by the DFA on Tuesday.

He said the aim of the investment mission is to have a “more diversified shareholder list for the three companies, greater awareness in Paris of the investment opportunities in the Philippines and, ultimately, more active investment in the country.”

The Philippine investment presentation was attended by officials from several investment houses and banks in Paris and London, such as Fortis, Lloyd Edwards Jones, Credit Agricole SA, Banque Française and Natexis Corporate and International Bank.

Zaide also gave a briefing on the mining industry in the Philippines aimed to attract French and other European investors to explore the booming mining business in the country.

Philippine mining companies that joined the investment mission have the potential to lure the French and European companies now looking for areas of exploration.

Atlas is one of the important mining companies in the Philippines and is in partnership with Alfredo Ramos Partners. Rusina, an Australian Company, is a partner of DM Consunji Inc., while Metals Exploration has yet to tie up with a Filipino group.

PRIVATE mining companies in the Philippines have urged French and British investors to explore the mining industry in the country as they presented information on the business opportunities at the recent high-level delegation in Paris, saying the Philippine economy has grown stable since the Asian crisis in 1997.

AFTER announcing that it plans to prepay debts of the state-run power company, the Power Sector Assets and Liabilities Management Corp. (Psalm) said Tuesday that it is ready to chop off a huge part of the government’s debt by prepaying up to $1 billion of the National Power Corp.’s (Napocor) loan obligations.

AN antidebt watchdog urged members of Joint Congressional Power Committee (JCPC) on Tuesday to stop the Power Sector Assets and Liabilities Management Corp. (Psalm) from bidding the 25-year concession contract to operate the National Transmission Corp. (Transco), saying that the government could lose a minimum of around P246 billion in potential earnings.

THE use of the mandated 1-percent coco-biodiesel blend (B1) has significantly cut down carbon emissions in Metro Manila, according to data from the Department of Environment and Natural Resources (DENR).

LAWMAKERS asserted Tuesday that the secretary of finance cannot assign to a subordinate his review powers under the Tax Code, especially if this authority was exclusively delegated to him by Congress.

THE transportation department signed a consultancy contract last week with the Aviation Systems Consultants Co. Ltd. (Asco) for the improvement of the country’s aviation industry.

A FISHERY nongovernment organization is asking the government to stop the ongoing oil and gas exploratory drilling in Tañon Strait off Cebu if the company conducting the exploration and the Department of Energy (DOE) would not offer compensations to 1,500 fishermen affected by the fishing ban.