The Philippines has a new President. He is the son of the national heroine, ‘Cory’ Aquino. After the pro-mining policy of previous President, Gloria Macapagal-Arroyo, there are hopes that “Noynoy” (as he is popularly known) will literally bring in a new regime. He has promised a ‘Truth Commission’ over his predecessors’ corruption, and the Catholic Bishops are asking that this be extended to looking at environmental crimes, most notably previous mining disasters. They are also calling, once again, for the repeal of the 1995 Mining Act. This would affect London-listed Xstrata.