PMEA Blog

Reuters reported that mining groups from Brazil to Australia are combing the Philippines for copper, nickel and gold but patience is required to see a return on investment. Disagreement over contracts, communist rebel attacks, financial difficulties and local opposition have stalled some existing mining projects in the Philippines but with metal prices still high, overseas and local investors remain attracted to its resources.

Mr Horacio Ramos director of Mines & Geosciences Bureau said that the trend is going up. He pointed to plans by China’s largest listed gold producer Zijin to raise its investment in a cold copper project in the north to 60% and Ramon Ang, the president of food and drinks giant San Miguel. Both Zijin and Ramon Ang will receive financial and technical assistance agreements from the government, underlining that these will be large scale projects.

Read more