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New
Projects
Mineral
Development Projects on the Pipeline
Some projects have undergone feasibility studies and are
now completing requirements prior to construction and development. These
projects and their description are as follows:
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Projects
On The Pipeline |
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PROJECT |
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DESCRIPTION |
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New
Projects |
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| Rapu
Rapu Polymetallic Project |
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A
copper-zinc-gold-silver mining project of Lafayette Phils., Inc. in Rapu
Rapu Island, Albay. It is contemplated to be developed at an investment
of US$ 42 million. The expected annual income from this project is US$ 48
million. Construction and development is on going and commercial production
will commence in 2005. |
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| Palawan
Nickel Processing Project |
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A
nickel processing project in Bataraza, Palawan by Coral Bay Nickel Corporation.
It will employ the High Pressure Acid Leach technology to recover the nickel
and cobalt from the ore of the Rio Tuba mine. Annual production capacity
is 10,000 tonnes of nickel and 750 tonns of cobalt in the form of mixed
sulfides at an estimated value of US $ 53 million per year. The project
started construction early this year and is expected to commence commercial
production by 2005. |
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Aroroy
Gold Project |
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A
US$ 100 million mining investment project of Filminera Resources in Aroroy,
Masbate involving the rehabilitation of the old Atlas gold mine to produce
138,500 ounces of gold per year. It is currently conducting confirmatory
drilling to finalize its bankable feasibility study. |
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Didipio
Copper-Gold Project |
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This
is a US$ 133 million mining investment project of Climax-Arimco Mining Corporation
in Kasibu, Nueva Viscaya. It is expected to operate at 2 million tons per
year to produce 181,000 ounces of gold estimated at a value of US$ 58 million
per year. The project is finalizing its financing requirements. |
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King
King Copper-Gold Project |
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This
is a copper-gold project of Benguet Corporation in Pantukan, Compostela
Valley. It is contemplated to produce 2 billion pounds of copper concentrate,
466 million pounds of copper cathode, 4 million ounces of gold and 4 million
ounces of silver. It has an estimated value of US$ 4 Billion and requires
a capital investment of US$ 531 million. |
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Mineral
Development Projects Under Review There
are also projects that are being studied/reviewed for possible development
or re-activation. These projects include the following:
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Projects
Under Review |
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PROJECT |
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DESCRIPTION
/ STATUS |
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Toledo
Copper Project |
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This
is the former underground copper mining operation of Atlas Consolidated
Mining Development Corp. in Toledo City, Cebu. This project was once the
biggest copper mine in Asia. Majority control over the project was recently
acquired by Alakor Corporation. Atlas, the former owner, unloaded its outstanding
debt through a debt-to-equity swap with Alakor and Minoro Mining and Exploration
Corporation. Atlas forged a deal with Alakor giving the latter the right
to rehabilitate the copper mine. The mine was shut down in 1994 due to flooding.
The Toledo mine’s rehabilitation would require US$ 84 million. The
mine has a remaining mineral resource of 873 million tonnes with a grade
of 0.41% copper. The current plan is to set up a pilot bio-leaching plant.
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Far
Southeast Copper-Gold Project |
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This
is an underground copper mining project of Lepanto Consolidated Mining Development
Corp. located in Mankayan, Benguet. The deposit was estimated to have a
geologic resource of 66 million tonnes with a grade 0.83% copper and 2.06
grams of gold per tonne of ore. Initial estimate of the capital requirement
of the project is US$ 242 million. The project need further studies on the
tailings disposal system; mine ventilation and refrigeration systems, mine
planning to increase ore recovery and ensure long term mine stability; shaft
engineering design; backfill system; process testing and project organization
and management. |
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Itogon-Suyoc
Gold Project |
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This
is an underground project Itogon-Suyoc Gold Mines, Inc.. There are two mines
involved, one is in Sangilo, Itogon, Benguet and the other is in Suyoc,
Mankayan, Benguet. The company is contemplating to expand and modernize
its mining and milling operations to a 3,000 tons per day operation. It
has a total mineable reserves of 32.5 million tonnes with a grade of 3.3
grams of gold per tonne of ore. The project which is majority owned by Philweb,
a communications company, and Itogon-Suyoc Mines, Inc.. is undergoing a
thorough technical review. |
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Batong
Buhay Copper-Gold Project |
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This
is an underground copper-gold project located in Balatoc, Pasil, Kalinga.
It has an estimated ore reserves of about 86 million tonnes assaying 0.6%
copper, 0.25 grams gold per tonne and 2.7 grams silver per tonne. The mine
ceased operations in 1985. The property is up for sale through the Privatization
Management Office . |
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Mineral
Exploration Projects
Although the industry has declined in the number of its
operating mines, it has performed well in terms of exploration. So far,
there are twenty-three (23) active exploration projects in the country.
Five (5) of them are in the advanced stage of exploration. Majority of
exploration projects are conducted by foreign exploration companies. They
have acquired interest in most of the exploration prospects that have
not been pursued previously by Filipino companies who lack the necessary
funds to conduct a full-scale exploration program. The following are some
of the currently active exploration projects by foreign companies:
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Mineral
Exploration Projects |
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COMPANY |
PROJECT |
LOCATION |
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A.
Advanced Stage |
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Anglo
American Exploration Pty Ltd. |
Buyongan
Copper Project |
Surigao
del Norte |
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Indophil
Resources/ MIM Ltd Tampakan |
Copper
Project |
South
Cotabato |
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QNI,
Ltd. / BHP-Billiton |
ACT
Nickel Project |
Surigao
del Norte |
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TVI
Pacific, Inc. |
Canatuan
Gold Project |
Zamboanga
del Norte |
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Indophil
Resources, NL |
Manat
Gold Project |
Davao
del Norte |
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B.
Preliminary Stage
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Anglo
American Exploration Pty Ltd. |
Cordillera
Gold Project |
Benguet |
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Climax
Mining Ltd. |
Surigao
Copper Project |
Surigao
del Norte |
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Red
5 Resources NL |
Siana
Gold Project |
Surigao
del Norte |
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Indophil
Resources, NL |
Labo
Gold Project |
Camarines
Norte |
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Leyte
Gold Project |
Eastern
Leyte |
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Oxiana
Resources NL |
Nueva
Viscaya Gold Project |
Nueva
Viscaya |
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Southern
Leyte Gold Project |
Southern
Leyte |
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Surigao
Gold Project |
Surigao
del Norte |
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Phelps
Dodge Explo. Corp. |
Del
Gallego Gold Project |
Camarines
Norte |
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QNI,
Ltd. / BHP-Billiton |
Pujada
Nickel Project |
Davao
Oriental Sur |
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American
Gold Corp. |
New
Bataan Gold Project |
Davao
del Norte |
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Templar
Resources, Inc. |
Bayugan
Gold Project |
Zamboanga
del Sur |
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Mindoro
Resources Ltd., |
Pan
de Azucar Project |
Iloilo |
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Lobo
Copper Gold Project |
Batangas |
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Kinloch
Resources Inc |
Zambales
Platinum Project |
Zambales |
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Pelican
Resources, Inc. |
Mabuhay
Gold Project |
Surigao
del Norte |
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Great
Horizon Nat. Res.& Devt Corp. |
Libona
Gold Project |
Bukidnon |
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Crew
Development Corp. |
Pamplona
Sulfur Project |
Negros
Oriental |
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