The industry is never considered a big employer owing to its equipment-intensive nature. It accounted for 104,000 employees in its large-scale (mining and quarrying) sector or just 0.30% of total Philippine employment. However, this is significantly higher if the industry’s multiplier effect is considered. While estimates vary, it is safe to assume that for every job in the industry, about four indirect jobs are generated in the upstream and downstream sectors.

 

8.   Equity Investments in Mining

Investments in mining follows the typical cyclical fluctuations in the prices of metallic commodities. But the highest infusion of equity capital was seen during the period 1996 to 1999, just after the Mining Act of 1995 was enacted. This indicated a renewed interest for investments in mining. Noticeable increases in investments were also shown during the years 1992 to 1995, reflecting the enthusiasm of mining investors to take advantage of an upcoming new mining law which is favorable to investments.