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Mining Investment Information of Philippines
editor:suntrans   time:2013-05-20

As non-renewable resources, mineral resources play a more prominent role for economic and national defense when resources are becoming increasingly scarce. Despite of China’s abundance of mineral resource, mining resources can be exhausted someday with the continuous economic development. In order to promote the economic development of our country and make full use of the mining resources abroad, we have to adhere to the ‘strategy of going out’.

The Republic of the Philippines, a country in Southeast Asia, is an archipelago comprising 7107 islands with its north across the Bass Strait facing towards Taiwan, south and west across Sulawesi Sea, Sulu Sea, Balabac Strait towards Indonesia and Malaysia, west to the South China Sea and east to the Pacific Ocean. It covers 299,700 square kilometers. 11 main islands, including Luzon, Mindanao and Samar Island, account for 96% of Philippines. Philippines has complex terrain and many volcanoes. Mountain almost accounts for more than three-quarters of the land. Philippines has 18,533 kilometers of coastline with many natural harbors. The Philippines has a tropical monsoon rain forest climate, which is characterized by high temperature and raininess. The average annual temperature is around 27°C and the average annual precipitation is 2,000-3,000 mm.

Philippines is rich in mineral resources and accounts for a large proportion of the world’s mineral reserves. 13 metallic minerals and 29 metalloid minerals have been proved in Philippines. Philippines is an important producer and exporter of copper, gold, chromium and nickel and rich in iron, coal, petroleum and gas, silica sand and other mineral resources.
Due to the limitations of the development of economy and exploiting conditions, nowadays Philippines selectively extracts metallic minerals like gold, chromium, nickel, copper in and phosphate ore, guano, clay, dolomite, feldspar, limestone, marble, perlite, silica, aggregated rock, sand, salt, diorite and serpentinite.

Philippines mineral resources are mainly distributed in Benguet, Zambales, Marinduque in Luzon in the northern area, Samar, Negros Occidental in Visaya in central area, Palawan in the western area and Surigao del Norte, Davao, Davao Oriental Zamboanga del Norte in Mindanao in the southern area.

In 2008, mining industry and quarrying departments contributed 1.70% of the GDP in Philippines according to the price of 1985.

(1)Copper ore
Philipines is rich in copper with porphyry copper distributed all over the country. Major copper ores are in the North Luzon including Zambales, Benguet and Nueva Viscaya, the South Luzon including Surigao del Norte, Davao and Davao Oriental. Geological prospecting shows that there are many copper ore deposits and copper prospects.

(2)Nickel Ore
Up to 2009, the nickel reserves in Philippines have reached 920,000 tons in the lateritic nickel ore deposits. Most of the ores are in shallow soil layer and easy to be exploited at low cost. Nickel ore deposits are distributed mainly in Davao Oriental and Palawan. Surigao del Norte and Zambales also have large nickel ore deposits. The nickel yield of Philippines in 2009 is 85,000 tons.

(3)Gold ore
The gold ores in Philippines occur as grandidierite and placer and major mining areas are in Baguio, Paracale, Masbate, Surigao and Masara. Geologists hold that, according to the geologic characteristic of Philippines, the largest gold deposits may lie in the dislocation area of natural forces. Latest gold exploration work has shifted towards shallow deposits. An Australian prospecting company discovered over 6 million tons of gold-copper-silver ores on Rapu-Rapu Island, containing 3g gold and 37g silver per ton, 1.46% copper and 2.33% zinc (silver is often associated with gold and copper as the secondary product of gold and silver production). The yield of gold mine in Philippines is 37.1 tons in 2008.

On May 31st, 2010, Philippines’s Manila Bulletin reported that the largest listed company of copper industry in the world, Freeport McMoRan Copper and Gold (FCX) Company was interested in investing 5 billion US dollars to develop copper mine in Kalinga. FCX became the world’s largest copper company by buying Phelps Dodge Company in 2007 (From: the website of China-ASEAN Mining Cooperation Forum).


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