Potential Impacts of Mining to Resources along Carac-an Watershed, Eastern Mindanao, Philippines: Total Economic Value Estimate Runnint Title: Total Economic Value of Mining Impacts

Abstract

Mining extracts minerals are important in the technological advancements of humanity. This leads to a progressive society, address relevant medical issues, food-security problems, and even creates various jobs. However, the externalities of mining activities like land-use changes are inevitable that could affect the resources and various users. Hence, this study was conducted to obtain an estimate of the total economic value of resources that are adversely impacted by mining activities, particularly the basic goods and services used by the people. Estimating the total economic value, includes computing the use and non-use values and the existence and bequest values. The study sites covered were within the Carac-an Watershed along the Municipalities of Cantilan, Madrid, and Carrascal. Primary and secondary data were obtained and used as basis in estimating the total economic value. Results showed that the total economic value of use and non-use goods and services along the Carac-an Watershed had amounted to PhP 4,569,224,709.00 per year. This can be considered as an environmental asset that would be lost as a consequence of mining operations. However, this economic value is too huge to be compromised by the externalities (e.g. pollution, deforestation, land use change and siltation) out of mining activities thereby putting the community and the environment at risk. While this finding was only based on estimated values, it is still imperative to revisit the implementation of mining operation. Further, relevant comprehensive study is recommended to fully capture the values of other resources not considered in this study.