Mar. 31, 2010
The Philippines government has given the greenlight for 17 companies to start exploring their mining tenements, in line with a goal to boost investments in the capital-intensive industry.
Data from the Mines and Geosciences Bureau (MGB) showed that since the year started, it had approved 20 new exploration permits covering 122,000 hectares nationwide. An exploration permit, which allows exploration activities in certain areas open to mining, has a term of two years, but may be renewed.
"The industry is getting better [and this is] expected since we came from a crisis last year so there is no other way to go but up," Leo L. Jasareno, MGB assistant director, said in an interview.
The miners are interested in exploring areas rich in chromite, copper, gold, nickel, silver, manganese and magnetite sand.
In February, the bureau approved the exploration permit of Emir Mineral Resources Corp., which wants to explore a 179-hectare chromite site on Homonhon Island in Eastern Samar.
The bureau has approved the application of PNOC-Energy Development Corp. for the exploration of 5,632 hectares in Negros Occidental; Amalgamated Iron Works, Inc. for 10,000 hectares in Surigao del Sur; and Sungtai Processing & Trading Corp. for 1,619 hectares in Sta. Cruz, Zambales.
The companies will explore for nickel and chromite.
It also approved the exploration permits of OZ Metals Exploration and Development Corp. for a 1,400-hectare site in Davao Oriental; Kumakata Mining Co., Inc. for a 3,499-hectare tenement in Batangas; Affluere Minerals Corp. for 1,663 hectares. in Sta. Cruz, Marinduque; Egerton Gold Philippines, Inc. for a 2,451-hectare site in Lobo, Batangas; and MRL Gold Philippines, Inc. for 2,991 hectares in several areas in Batangas.
These companies are looking for gold, copper and silver.
Other mining firms given exploration permits were Alcorn Gold Resources Corp., J&M Resources Mng. & Explo. Corp., Peniel Res. Mng. Corp., T&T Res. Mining Corp., Bo Go Resources Mng. Corp., Filmenera Res. Corp. and T&D. Kim Phil., Inc.
Since 1990, the government has approved more than 300 mineral production sharing deals and four financial and technical assistance agreements. The latter allows foreigners to fully own mining operations.
Such permits have been awarded to OceanaGold Phils., Inc., Sagittarius Mines, Inc., Agusan Minerals and Petroleum Corp. and FCC Mining Corp.
This year, the Mines bureau expects investments in the mining industry to more than double to $1.428 billion on the back of increased demand that has led to rising metal prices.
The Philippines government has given the greenlight for 17 companies to start exploring their mining tenements, in line with a goal to boost investments in the capital-intensive industry.
Data from the Mines and Geosciences Bureau (MGB) showed that since the year started, it had approved 20 new exploration permits covering 122,000 hectares nationwide. An exploration permit, which allows exploration activities in certain areas open to mining, has a term of two years, but may be renewed.
"The industry is getting better [and this is] expected since we came from a crisis last year so there is no other way to go but up," Leo L. Jasareno, MGB assistant director, said in an interview.
The miners are interested in exploring areas rich in chromite, copper, gold, nickel, silver, manganese and magnetite sand.
In February, the bureau approved the exploration permit of Emir Mineral Resources Corp., which wants to explore a 179-hectare chromite site on Homonhon Island in Eastern Samar.
The bureau has approved the application of PNOC-Energy Development Corp. for the exploration of 5,632 hectares in Negros Occidental; Amalgamated Iron Works, Inc. for 10,000 hectares in Surigao del Sur; and Sungtai Processing & Trading Corp. for 1,619 hectares in Sta. Cruz, Zambales.
The companies will explore for nickel and chromite.
It also approved the exploration permits of OZ Metals Exploration and Development Corp. for a 1,400-hectare site in Davao Oriental; Kumakata Mining Co., Inc. for a 3,499-hectare tenement in Batangas; Affluere Minerals Corp. for 1,663 hectares. in Sta. Cruz, Marinduque; Egerton Gold Philippines, Inc. for a 2,451-hectare site in Lobo, Batangas; and MRL Gold Philippines, Inc. for 2,991 hectares in several areas in Batangas.
These companies are looking for gold, copper and silver.
Other mining firms given exploration permits were Alcorn Gold Resources Corp., J&M Resources Mng. & Explo. Corp., Peniel Res. Mng. Corp., T&T Res. Mining Corp., Bo Go Resources Mng. Corp., Filmenera Res. Corp. and T&D. Kim Phil., Inc.
Since 1990, the government has approved more than 300 mineral production sharing deals and four financial and technical assistance agreements. The latter allows foreigners to fully own mining operations.
Such permits have been awarded to OceanaGold Phils., Inc., Sagittarius Mines, Inc., Agusan Minerals and Petroleum Corp. and FCC Mining Corp.
This year, the Mines bureau expects investments in the mining industry to more than double to $1.428 billion on the back of increased demand that has led to rising metal prices.
