To familiarize everyone with key socioeconomic terms and concepts, we have this new social media series.
For this week, our buzzword is “open-pit mining”.
It is a type of surface mining that involves digging a large pit in the ground and removing the soil and rock overlying the mineral deposits near the earth’s surface.
It is commonly used to extract copper, gold, iron, and coal.
Source: Anglo American
In assessing the social impact of open-pit mining, a PIDS study found that only two out of five open-pit mines gave royalty shares to indigenous communities in 2012 and 2013 with a cumulative amount of PHP 86.35 million. Royalty shares are payments made to indigenous communities by mining companies for the use of their land and resources.
Know more about the costs and benefits of open-pit mining by reading “Implications of Lifting the Open-Pit Mining Ban in the Philippines” available at https://pids.gov.ph/publication/discussion-papers/implications-of-lifting-the-open-pit-mining-ban-in-the-philippines.
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