Philippine President Benigno Aquino has announced a new mining policy that aims to offset environmental risks and generate more revenue for the government.

The government has imposed a moratorium on new mining contracts for the next five years, while reviewing some 300 existing contracts - of which around 30 are actually operational.

He says it aims to copy the best mining practices in other countries, reform the industry and generate more revenues for state coffers.

But it remains unclear how the government aims to share its tax revenues and royalties and many are calling the move - "plundering" - saying it robs the country's national resources and violates workers'welfare.

Al Jazeera's Jamela Alindogan gauges reaction from Manila