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Manila defends mining deal of Defensor’s firm

Written by Writer on Tuesday, November 11th, 2008

Manila defends mining deal of Defensor’s firm

11-NOV-2008 Intellasia | Sunstar
Nov 11, 2008 - 7:00:00 AM

MALACAANG said there was nothing wrong in President Gloria Macapagal-Arroyo’s witnessing last Friday a multimillion-dollar mining deal between Chinese firm Jiangxi and a Filipino firm chaired by former presidential chief of staff and defeated senatorial candidate Michael Defensor.

“Officially it’s one of the investments from China for the

Philippines,” deputy presidential spokesman Anthony Golez Jr. said.

Golez belied claims that Arroyo’s witnessing of the signing will give Defensor’s firm, Geograce-Nihao, an unfair advantage in the mining industry.

The Geograce-Nihao mining firm also has as its president Jerry Angping, brother of special envoy for trade and investments Harry Angping.

One of its shareholders is Rene Puno, brother of Interior and Local government Secretary Ronaldo Puno.

But Golez insisted the firm has not run afoul of the law, and that it is “aboveboard.”

“What is important is that the firm violated no law. We cannot say it enjoys an undue advantage because it is aboveboard,” he said.

“The important thing is that it will help the economy and our country,” he added.

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News Topics : Chinese Firm, Gloria Arroyo, Gloria Macapagal Arroyo, Golez, Government Secretary, Intellasia, Jiangxi, Last Friday, Michael Defensor, Mining Industry, Multimillion Dollar, President Gloria Macapagal, President Gloria Macapagal Arroyo, Presidential Spokesman, Rene Puno, Ronaldo, Ronaldo Puno, Senatorial Candidate, Sunstar, Unfair Advantage