Miners eye $3-B China investment
Filed under: General News
By Max V. de Leon, BusinessMirror
Posted at 08/26/2011 7:18 AM | Updated as of 08/26/2011 10:48 AM
MANILA, Philippines - A high-profile delegation from the Chamber of Mines of the Philippines is expected to help the government seal up to $3 billion in mining investments and mineral-supply contracts with Chinese firms during President Aquino’s state visit to China next week.
Not only that, Chamber of Mines President Philip Romualdez said the Philippines will use the China trip to build the confidence of the international investment community in the country’s readiness for big-time mining projects and clear up the confusion created by local government ordinances banning certain types of mineral-extraction methods.
“Our target is to forge greater confidence for investors who want to participate in Philippine mining projects, and to show that the Philippine government is serious and supportive of its development. So my immediate objective is for confidence-building to take place,” Romualdez said at a forum organized by the BusinessMirror, dwIZ and the Philippines Graphic on Thursday.
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