If developed, the Tampakan Project would generate significant economic benefits that would stimulate the local, regional and national economies. SMI would continue to work closely with all relevant authorities to strive for the equitable and balanced distribution of the Project’s social and economic benefits.

Through facilitating local recruitment and training opportunities, local procurement, and the implementation of community development programs, SMI intends to maximize its economic contribution to the local communities.

The main direct channels for economic benefits to be distributed in the Philippines would include:

• Opportunities for approximately 10,000 workers during the peak of the construction phase and direct employment opportunities for approximately 2,000 workers during the operations phase
• Engagement of local contractors and service providers, generating further substantial employment within the Philippines
• Government revenues (at various levels) through a variety of taxes and charges of approximately PhP 307 billion (USD 6.4 billion) (nominal) over the life of the Project
• Royalty payments and direct contributions in excess of PhP 39.8 billion (USD 830 million) (nominal) to local communities and local indigenous groups over the Project’s life
  

For further information regarding Economic Benefits, please refer to our Economic Benefits Fact Sheet.