Money over environment protection?

WHY the obsession with money to the detriment of the environment? Can’t it be the other way around?

The public who may be curious to know the answer need only read reports of the debates surrounding the closure of certain mining companies

on orders of Secretary Regina Lopez of the Department of Environment

The arguments outside the DENR have failed consider the protection of the environment. Instead, their proponents focused more on pecuniary interests. Some asked: What would happen to the workers who lost their jobs with the stoppage of mining operations? Jobs, of course, mean money. Businessmen feared the potential losses from their investments; they forgot to tell the public that over the and bloated their retained earnings.

sourced the dividends that, having been approved by the board, companies distribute either in cash or in stock to their stockholders.

Whatever happened to the focus of the debates that was and should be the protection of the en anything else? Every reasoning by politicians, who care about people because of their votes, goes against the DENR and Lopez.

the workers or the environment?

Marcventures

Marcventures Mining and De only subsidiary of Marcventures Inc. and subsidiary.”

shares are not listed on the Philip - outstanding common shares are also partly owned – though indi 1,821,327,687 are listed.

With its unit engaged in mining, foreigners are allowed to own only up to 40 percent of its outstanding capital stock.

board doubled its authorized capital to P4 billion and increased the number of its directors by two to nine. The capital expansion means the company’s only subsidiary, to boost its search for precious metals. Never mind the result, which would be sacrificing the environment in favor of money.

Financials

- ported capital stock consisting of with par value of P1 per share. It had additional paid-in capital

par value resulting from the issuance of shares, whether common or preferred.

- sum is P2,034,014,093.

a total of P2,034,014,093 from the - mon shares to its stockholders, including its public stockholders. The issuance translates to P1.117 per share.

P829,604,241 as a result of a net year. The company did well in 2014 when it recorded net income of P844,280,341, and did better in

Dividends

P800 million and P1,244,078,034 in dividends it received from

With these dividends, Marcven venture even if only through a subsidiary. It did not have to go to the mountains. By staying home, it received a total of P2,044,078,034 in shares were entitled to a dividend of P1.1223 per share.

computed at P1 par value, this would result in total outstanding capital of P2,044,078,034, which, in turn, would translate to a divi

In the third quarter of 2016, - creased 36.1 percent to P140.249 million from P103.048 million in

- - ings left after the dividends its board approved for distribution in 2013 and 2014. These numbers mining. Shouldn’t they?