Mining investments to reach $348M
Filed under: Mine - Canatuan, Mine - Didipio, Mineral - Copper, Mineral - Gold, Mineral - Silver, Operator - APMI, Operator - TVI Pacific, Operator - TVI Resource Dev., Region 02 - Nueva Vizcaya, Region 09 - Zamboanga Del Norte
ENVIRONMENT Secretary Angelo Reyes sees brighter prospects for the mining industry this year with investments projected to reach US$348 million.
Reyes said the expansion of the HPAL facility in Coral Bay in Palawan would bring in $154-million, the continuing rehabilitation of the Carmen copper project in Cebu would bring in US$97 million, and a gold project in Masbate - US$36 million.
Another US$23 million investment was expected from the construction of the base metal plant of TVI in Zamboanga del Norte and US$21 million from the construction and development of the Didipio copper-gold project in Nueva Vizcaya, he said.
Since the mining industry was revitalized in January 2004, Reyes said a total of US$694 million in investments has been generated. These investments are expected to rise further between now and 2010 as ongoing projects advance in stage.
Leave a Reply
Please note that your comments will be subject to moderation by the PMEA Blog Administrator.