https://www.miningweekly.com
Copper|Environment|Exploration|Gold|Mining|Resources
Copper|Environment|Exploration|Gold|Mining|Resources
copper|environment|exploration|gold|mining|resources

Philippines seeks more sites for critical minerals in govt-led exploration

19th September 2023

By: Reuters

  

Font size: - +

MANILA - The Philippine government will step up support for the local mining industry via exploration activities starting next year to identify more areas where critical minerals such as nickel and chromium can be extracted, a senior official said on Tuesday.

The government-led exploration, which should help minimise risks for investors and provide necessary data for investment decisions, is the latest government measure to revitalise the Southeast Asian country's still vastly undeveloped mining sector.

"We want to help the industry with this critical step in the process," said Carlos Primo David, undersecretary at the Department of Environment and Natural Resources.

"We want to give some guidance on where to explore, what to explore, and it will be covered in a new regulation," David told reporters on the sidelines of an industry conference.

The Philippines, one of the main nickel ore suppliers to top metals consumer China and which also produces copper, gold and other minerals, is seeking to attract more investment in mining to support economic growth.

The government has removed restrictive mining policies, including a ban on open-pit mining, and is working to draw investment into its domestic nickel processing sector to squeeze value out of its metals and minerals industry.

"Our intention is to be able to identify (more) mineralised areas...for the purpose of being able to declare an area a mineral reservation. For any mining development in a mineral reservation, it goes with an extra royalty for the government," David said.

On domestic nickel ore processing, David said the government aims to add hopefully one more facility before the term of President Ferdinand Marcos Jr. expires in 2028.

There are only two nickel ore processing facilities in the Philippines currently, both partly owned by the country's top nickel ore producer and exporter Nickel Asia Corp. NIKL.PS.

Edited by Reuters

Comments

Showroom

AMS Haden Instrument & Mining Services (pty) Ltd
AMS Haden Instrument & Mining Services (pty) Ltd

AMS Haden is well known in the industry and we have been called on to provide advice on many projects.

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones, wear-resistant linings,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/09/2023)
15th September 2023 By: Martin Creamer
Photo of Martin Creamer
Manganese Metal Company, Copper 360 make headlines
15th September 2023

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.159 0.194s - 108pq - 2rq
Subscribe Now