Jaybee Garganera of Alyansa Tigil Mina says there will be a failure of governance when powerful politicians are behind mining corporationsJaybee Garganera of Alyansa Tigil Mina says there will be a failure of governance when powerful politicians are behind mining corporations

‘Call of the times’: Environmentalists urge passage of anti-dynasty law

2025/12/11 14:13

MANILA, Philippines – A coalition challenging large-scale mining called on the government to pass an anti-dynasty law, echoing a broad progressive movement in protest of the political dynasties connected to the corruption scandal in the country.

“When politicians are beneficial owners or when politicians are part of the value chain of mining operations, we cannot expect compliance with environmental laws and other regulatory policies,” said Jaybee Garganera, national coordinator of Alyansa Tigil Mina (ATM), on Thursday, December 11.

Advocacy watchdog Global Witness and ATM released a report Thursday linking nickel mined in the Philippines to leading manufacturers of electric vehicles.

The report traced ties between Marcventures Mining and Development Corporation – linked to the President’s cousin and former House Speaker Martin Romualdez – and Chinese metal traders supplying materials for carmakers. Marcventures operates a nickel mine in Surigao del Sur covering 4,799 hectares.

“There will be failure of governance where powerful politicians are behind [these] mining [corporations],” Garganera said, adding that they have been recommending the passage of such a law as a response to the “call of the times” when the country is mired in the flood control corruption controversy. (READ: Tracing the money, exposing the network: A year of Rappler investigations)

President Ferdinand Marcos Jr. already had the anti-dynasty bill on top of his priority legislation. A day before the Palace announcement, the Anti-Dynasty Network was launched.

Must Read

Martin Romualdez and his mining interests

Transparency in extractive industry

Aside from the anti-dynasty law, Garganera said they are also advocating for a bill on extractive industry transparency to “force” firms into disclosing contracts, payments, and the beneficial owners of the companies.

Transparency on the value chain of extractive industries can help watchdogs monitor if manufacturers are assessing risks to human rights and environment.

The report included anecdotes of fishers and farmers in Cantilan, a town in Surigao del Sur, affected by Marcventures’ mining operations. Interviews in the report tell of a decrease in fish stocks, polluted irrigation canals, and deforestation.

“Our investigation found that communities and the environment are being sacrificed on the road to net-zero,” said Hannah Hindstrom, lead investigator at Global Witness, on Thursday.

“Downstream companies, mostly in the global north, extract enormous profits from the Philippines’ nickel industry. But people on the ground pay a heavy, heavy price. Only robust rules that hold the most powerful accountable can help create a fairer and more just world,” Hindstrom added.

The Philippines is the second-largest producer of nickel in the world, following Indonesia. Nickel is among the top minerals needed for the global shift to renewables, along with lithium, cobalt, and copper. – Rappler.com

Market Opportunity
Mina Protocol Logo
Mina Protocol Price(MINA)
$0.07311
$0.07311$0.07311
-4.54%
USD
Mina Protocol (MINA) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

NGP Token Crashes 88% After $2M Oracle Hack

NGP Token Crashes 88% After $2M Oracle Hack

The post NGP Token Crashes 88% After $2M Oracle Hack appeared on BitcoinEthereumNews.com. Key Notes The attacker stole ~$2 million worth of ETH from the New Gold Protocol on Sept.18. The exploit involved a flash loan that successfully manipulated the price oracle enabling the attacker to bypass security checks in the smart contract. The NGP token is down 88% as the attacker obfuscates their funds through Tornado Cash. New Gold Protocol, a DeFi staking project, lost around 443.8 Ethereum ETH $4 599 24h volatility: 2.2% Market cap: $555.19 B Vol. 24h: $42.83 B , valued at $2 million, in an exploit on Sept 18. The attack caused the project’s native NGP token to crash by 88%, wiping out most of its market value in less than an hour. The incident was flagged by multiple blockchain security firms, including PeckShield and Blockaid. Both firms confirmed the amount stolen and tracked the movement of the funds. Blockaid’s analysis identified the specific vulnerability that the attacker used. 🚨 Community Alert: Blockaid’s exploit detection system identified multiple malicious transactions targeting the NGP token on BSC. Roughly $2M has been drained. ↓ We’re monitoring in real time and will share updates below pic.twitter.com/efxXma0REQ — Blockaid (@blockaid_) September 17, 2025 Flash Loan Attack Manipulated Price Oracle According to the Blockaid report, the hack was a price oracle manipulation attack. The protocol’s smart contract had a critical flaw; it determined the NGP token’s price by looking at the asset reserves in a single Uniswap liquidity pool. This method is insecure because a single pool’s price can be easily manipulated. The attacker used a flash loan to borrow a large amount of assets. A flash loan consists of a series of transactions that borrow and return a loan within the same transaction. They used these assets to temporarily skew the reserves in the liquidity pool, tricking the protocol into thinking the…
Share
BitcoinEthereumNews2025/09/18 19:04
CZ Defends HODL Strategy Amid Backlash, Yi He’s 94% BNB Allocation Revealed

CZ Defends HODL Strategy Amid Backlash, Yi He’s 94% BNB Allocation Revealed

The post CZ Defends HODL Strategy Amid Backlash, Yi He’s 94% BNB Allocation Revealed appeared on BitcoinEthereumNews.com. Zach Anderson Jan 29, 2026 10:00 Binance
Share
BitcoinEthereumNews2026/01/30 09:19
Nvidia shares fall 3%

Nvidia shares fall 3%

The post Nvidia shares fall 3% appeared on BitcoinEthereumNews.com. Home » AI » Nvidia shares fall 3% Chipmaker extends decline as investors continue to take profits from recent highs. Photo: Budrul Chukrut/SOPA Images/LightRocket via Getty Images Key Takeaways Nvidia’s stock decreased by 3% today. The decline extends Nvidia’s recent losing streak. Nvidia shares fell 3% today, extending the chipmaker’s recent decline. The stock dropped further during trading as the artificial intelligence chip leader continued its pullback from recent highs. Disclaimer Source: https://cryptobriefing.com/nvidia-shares-fall-2-8/
Share
BitcoinEthereumNews2025/09/18 03:13