'THE mining industry holds the greatest potential to be a key driver in our economic recovery and long-term growth, especially now that world metal prices are high. The Philippines, after all, is one of the world's most richly endowed countries in terms of mineral resources.'

Finance Secretary Benjamin Diokno made the above pronouncement on Wednesday during the additional listing of Philex Mining Corp. common shares. The Philippine Stock Exchange listing, he said, sends a strong signal to the mining industry that the country's capital markets are viable instruments for fast-tracking the development of large minerals development projects.