GEOCON highlights the role of Filipino Geologists
by Marcelle P. Villegas - March 18, 2019
GEOCON 2018, Manila Hotel [Photo by Marcelle P. Villegas]
Highlighting the achievements and challenges in the field of geology, The Geological Society of the Philippines (GSP) presented the 2018 Annual Geological Convention (GeoCon) last December 11-12, 2018 at The Manila Hotel. GSP is a duly accredited integrated professional organization for geologists. The theme for this event is “Building the Country, Securing the Future, The Role of Filipino Geologists”. The exhibit and convention was held at the hotel’s Fiesta Pavilion which had over 900 attendees from different parts of the country.
The Welcome Remarks was given by Dr. Renato U. Solidum, Jr. who is the Undersecretary for Disaster Risk Reduction and Climate Change of the Philippines, Department of Science and Technology (DOST). Mr Alberto P. Morillo, 2018 President of the Geological Society of the Philippines, introduced the keynote speaker, Honorable Juan Edgardo “Sonny” M. Angara,
Senator and Chairman of the Senate Committee on Local Government/ Ways and Means.
Senator Angara’s speech highlighted many important and critical topics surrounding the mining industry and the country’s Science and Technology (S&T) status in general. He started by thanking the Filipino scientists and S&T professionals for the important role they play in powering our economy forward. Then he wished them to have a long life and an appeal for them to stay in the country. "Sadly, people like them are fast becoming a rare breed here in the Philippines," he states.
"We continue to lose our best and brightest… We may be exhibiting among the world's fastest economic growth rates but we remain among the world's top labor-exporters, with close to 10 million of our people working in greener pastures abroad."
He said that these migrant workers may bring important dollar remittance to the Philippines which keeps our macroeconomic position stable, but their talents and skills are utilized by another country rather than here where they are much needed.
"A 2017 ADB report found that of all the 2.79 million tertiary-educated ASEAN nationals who migrated to OECD countries between 2010 and 2011, around 1.55 million or 55.3% were Filipinos. Among ASEAN countries, we sent abroad the biggest number of educated professionals comprising a significant brain drain. In fact, we sent to OECD (Organisation for Economic Cooperation and Development) countries a little more than three times as many as the second largest labor-exporting ASEAN country--Vietnam with 539,000."
Additionally, he noted, "By some measure, I am sure that such brain drain is also felt in the industries and research areas where the members of the Geological Society of the Philippines are involved."
Sen. Angara discussed the following topics:
1) Failure to create high-paying, S&T-driven jobs - He stressed the general inability of our economy to create high-paying jobs in the field of science and technology. For this reason, most professionals in the scientific field (like geologists, engineers, etc.) end up working in New Zealand, Australia, Canada or UK for more lucrative jobs.
2) "But even government-research positions are unattractive." - The Senator stated that, "Our top scientists, engineers and researchers are forced to find opportunities abroad where their talents are well-compensated. A National Academy of Science and Technology (NAST) July 2014 press release said that since the Scientific Career System was institutionalized in 1983, only 147 career scientists have entered the system -- or little less than 5 new scientists each year for 31 years. Worse, out of the 147, only 47 were actually active in government."
Sen. Angara mentioned that they worked to respond to the issue by co-authoring amendments to the Magna Carta for Scientists, Engineers and Researchers (still pending in the House of Representatives) to counter this. He says that this entails removal of limits on honoraria or additional salary that scientists can receive from grants-in-aid projects, expanding the coverage to include non-DOST S&T personnel (such as the R&D employees of the DA), and granting five-year extensions to those up for mandatory retirement.
3) “This needs to be rectified soon because the lack of attractive S&T jobs in the country dissuades many of our youth from pursuing S&T courses.”
4) “Such situation is unfortunate especially when S&T can play such a big role in solving many of the challenges we face today. Geologists and Geoscientists in particular could help the nation in any number of ways.”
Additionally, he emphasised the significant roles of geologists in addressing more issues in the country such as, disaster risk reduction (in preparation for “The Big One” earthquake), infrastructure build-up, responsible mining, and energy security. Sen. Angara also emphasised the importance of making education available to all to provide opportunities to more children so they will be encouraged to pursue a career in Science and Technology.
Several technical papers and studies were presented for the two-day convention. “Landslides in Itogon, Benguet: The Triggers and Causes” was discussed by M. Madrigal et al. Another interesting topic presented was the “Typhoon Ompong-Induced Landslides and Debris Flows in the Mine Claims and Host Barangays of Itogon-Suyoc Resources Inc. in Itogon and Mankayan, Benguet Province: Emergency Preparedness Initiatives” by G. Rostata et al.
The environmental issue in Boracay was discussed by R. Agot et al with their study titled “Ground Penetrating Radar (GPR) Investigation of Buried Pipes along White Beach and Bulabog Beach, Boracay Island, Municipality of Malay, Aklan Province.” Their presentation revealed photos which are striking evidence on how certain restaurants and resorts in Boracay have violated environmental rules and guidelines in managing their wastewater.
For Session 5 of day 1 of GeoCon 2018, the special guest speaker was Ms Marites Danguilan Vitug, RAPPLER’s Editor-at-Large and author of the book “Rock Solid: How the Philippines won Its Maritime Case against China”. Atty. Fernando Penarroyo, moderator of Session 5 described the book, “‘Rock Solid’ narrates the complicated maritime dispute by providing previously unreported details on the developments before and after the July 2016 arbitral decision.” The author discussed her book during the event. Ms Vitug is a former editor of Newsbreak magazine. She won numerous awards such as the Philippine National Book Award in Journalism for her books “Power from the Forest: the Politics of Logging” and “Under the Crescent Moon: Rebellion in Mindanao” with Glenda M. Gloria. She also received the Courage in Journalism Award by the International Women’s Media Foundation (U.S.A.) for her work that exposes plunder of Palawan forests. Her book with Criselda Yabes titled “Jalan Jalan:A Journey through EAGA” was chosen by Asiaweek as one of the best books on Asia in 1999.
Election for the 2019 GSP Officers and Trustees also took place during the GeoCon 2018. The induction of newly elected officers, trustees and committed chairs was held later in January 31, 2019 at PHIVOLCS Auditorium. This year’s GSP Officers and Trustees are the following: President: Dr. Carla B. Dimalanta (President), Dr. Teresito C. Bacolcol (Vice-President), Dr. Jillian Aira S. Gabo-Ratio (Secretary), Dr. Victor B. Maglambayan (Treasurer), Dr. Karlo L. Queaño (Assistant Secretary), and Trustees Mr. Ciceron C. Angeles, Jr., Dr. Rene Juna R. Claveria, Dr. Betchaida D. Payot and Atty. Marissa P. Cerezo.
This year will be an exciting time for GSP as they prepare for the 75th year anniversary in 2020. GSP will also be hosting the GEOSEA conference on the same year.
Thank you to Atty. Ronnie Penarroyo, Ms Marites Danguilan Vitug, Dr. Renato U. Solidum, Jr., and Ms Dianne Kay Orquina Namit.
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Philippine Resources - August 05, 2022
NICKEL ASIA CORPORATION ANNOUNCES P3.83B NET INCOME FOR H1 2022, UP 41% YoY
Photo Credit: Arrow Creatives Nickel Asia Corporation, the Philippines’ largest producer of lateritic nickel ore, reported a 41-percent increase in attributable net income for the first semester this year. Based on unaudited financial and operating results for the six-month period ended June 30, 2022, attributable net income increased to P3.83 billion from P2.73 billion while earnings before interest, tax, depreciation, and amortization (EBITDA) increased by 19 percent to P6.33 billion from P5.32 billion the year prior. Despite lower ore volume sold during the period, revenues increased by 7 percent to P11.78 billion from P11.01 billion last year, owed largely to higher nickel ore prices and favorable exchange rates. NAC’s four operating mines sold a combined 6.95 million wet metric tons (WMT) of nickel ore during the first half of the year, down 16 percent from 8.30 million WMT in the same period last year. The drop in sales volume was almost in direct proportion to unrealized workable days caused by inclement weather that adversely affected the Company’s mining operations during the period. The weighted average nickel ore sales price over the first half of year 2022 rose by 18 percent to $30.03 per WMT against $25.54 per WMT in the same period last year. The Company also realized P52.56 per US dollar from these nickel ore sales, a 9-percent increase from P48.25 last year. Breaking down the ore sales, the Company exported 3.12 million WMT of saprolite and limonite ore at the average price of $42.05 per WMT during the six-month period compared to 4.55 million WMT at $37.62 per WMT in the same period last year. Likewise, the Company delivered 3.83 million WMT of limonite ore to the Coral Bay and Taganito high-pressure acid leach (HPAL) plants, the prices of which are linked to the London Metal Exchange (LME) and realized an average price of $12.52 per pound of payable nickel. This compares to 3.74 million WMT at $7.92 per pound of payable nickel in 2021. Expressed in US dollar per WMT, the average price for the deliveries to the HPAL plants were $20.23 and $10.85 in the first half of 2022 and 2021, respectively. “The first half of 2022 was not without its challenges especially for our mining operations, brought about by weather conditions at our mine sites, particularly in Surigao, and continuing lockdowns in China, our major market,” said Martin Antonio G. Zamora, President and CEO. "However, the higher LME nickel price and stronger US dollar tempered the impact on our revenues.” Owing to the higher LME nickel price during the period, NAC also recognized gains from its equity share in investments in the two HPAL plants in the combined amount of P1.09 billion against P244.1 million year-on-year. The stronger US dollar further enabled NAC to log a 353-percent hike in net foreign exchange gains from its foreign currency-denominated net financial assets to P863.5 million from P190.6 million the year prior. Total operating cash costs decreased by 2 percent year-on-year to P5.19 billion from P5.32 billion last year. On a per-WMT sold basis, total operating cash costs increased to P747 per WMT compared to P641 per WMT in 2021. For the Company’s renewable energy business, its subsidiary, Emerging Power, Inc. (EPI) energized in June 2022 another 38-megawatt (MW) solar farm in Subic, Zambales, bringing total capacity on this site to 100MW. For 2022, the Subic plant has been operating at an 18- 19% plant efficiency factor with 90% of generation contracted under power sales agreements. EPI has realized an average tariff of P4.65 per kilowatt hour. EPI has another 100MW service contract for the Subic site and will commence construction of a 68-MW farm in August. Completion is expected by the third quarter of next year. EPI was also chosen by Shell Overseas Investments B.V. to be its exclusive local partner in a solar, onshore wind, and battery storage joint venture that aims to contribute up to 3GW into the Philippines’ renewable capacity. NAC is evaluating a range of financing alternatives including accessing global debt capital markets to raise EPI’s share of the equity required for an initial 1GW target by 2028, among other uses. The Company’s strong financial position will allow it to be opportunistic in evaluating funding options that meet the primary objective of maintaining a flexible low-cost capital structure. “We remain confident that our mining and renewable energy businesses provide a solid foundation on which to realize the OneNAC Vision’s twin objectives, which is to become the premier ESG investment in the country and to be counted among the Top 25 PSE-listed companies in terms of market capitalization by 2025,” said Zamora. Article courtesy of the Philippine Stock Exchange
Philippine Resources - August 04, 2022
Further shallow copper mineralisation identified at MCB
Figure 3. Cross section of drill hole MCB-039 relative to the interpreted geology and significant assay results. We (Celsius Resources) are pleased to announce we have received further shallow and high-grade copper assay results from the ongoing drilling program at our flagship MCB copper-gold project, held under our Philippine subsidiary Makilala Mining Company, Inc. (“MMCI”). The results continue to identify new positions of shallow mineralisation which are in line with other recent drilling results from holes MCB-036, MCB-037 and MCB-038 (see CLA announcements dated 13 December 2021, 23 May 2022 and 4 July 2022 respectively) confirming the presence of an extensive shallow higher-grade position. The results from MCB-039 were designed to further expand the size of the shallow higher-grade copper zones which are considered to have an important positive impact on early mining options at MCB. The current drill hole in progress (MCB-040) is similarly designed to further expand the higher-grade copper mineralisation leading to potential improvements to the economics of the already positive Scoping Study at MCB as reported by Celsius on 1 December 2021. “The results from MCB are continuing to grow the size of the shallow higher-grade copper zones,” said Country Operations Director, Peter Hume. “We are getting much better definition now on the various high-grade zones, which are important for the optimisation of the MCB mine plan. We can see many good high-grade intersections coming together to expand on the earlier understanding of these high-grade zones. Where we get multiple high-grade zones staked on top of each other, we can achieve outstanding results, as recently announced from hole MCB-038 which intersected 611.4m @ 1.39% copper and 0.75g/t gold from 32.5m.” RESULTS FROM MCB-039 Drill hole MCB-039 was drilled to further confirm the interpretation that further shallow high-grade positions exist as a relatively flat body extending into the surrounding host rocks (see Figures 2 and 3). This drill hole was more specifically targeted to fill a gap in the drilling information where there was previously defined lower grade copper mineralisation. The results from MCB-039 have confirmed the further extensions to the higher-grade copper mineralisation as part of a series of relatively flat lying, high-grade zones which are extending away from vertically orientated feeder structures which are all closely related to an intrusive Tonalite rock (Figure 3). Figure 2. Location of MCB-039 drill hole relative to recent and historical diamond drilling at MCB. A large broader envelope of copper mineralisation at a lower cut-off grade at approximately 0.2% copper also continues to be better defined, highlighting the very large scale of the copper-gold mineralisation at the MCB deposit. Table 1: Significant intersections from drill holes MCB-039. Article courtesy of Celsius Resources. Full press release can be found HERE
Philippine Resources - August 04, 2022
Diokno banks on mining for sustained economic recovery, expansion
Photo credit: PNA - Finance Secretary Benjamin Diokno Finance Secretary Benjamin Diokno said the mining industry is a potential source of sustained economic growth as he underscored the benefit of mobilizing investments for mine development. “The mining industry holds the greatest potential to be a key driver in our economic recovery and long-term growth, especially now that world metal prices are high. The Philippines, after all, is one of the world’s most richly endowed countries in terms of mineral resources,” he said Wednesday at the listing of Philex Mining Corporation’s (Philex) common shares in the Philippine Stock Exchange (PSE). Philex is mobilizing investments for the development of its Silangan underground copper-gold mine in Surigao del Norte. In a disclosure to the PSE, the company said it is offering a maximum of 842 million common shares at the rate of one offer share for every 5.8674 shares owned for PHP3.15 each to raise a total of PHP2.652 billion new equity. The stocks rights offering (SRO) period started on July 12, 2022 and ended July 25, 2022. The Silangan project, considered one of the biggest copper-gold mines in the country, is planned to be mined in two phases. The first phase has a mineable ore reserve of 81 million metric tonnes which will be mined for 22 years at a rate of 4 million tonnes per year. The mine is targeted to commence commercial operations in the first quarter of 2025. Diokno said Philex’ SRO listing demonstrates the mining industry’s confidence in the country’s promising economic growth prospects. He said the offering means more jobs will be created, local economies will be reinvigorated, and additional revenues will be contributed to the government. The Department of Finance (DOF) estimates that the project will generate around PHP8.5 billion in excise taxes alone for its entire mine life. Diokno said the listing sends a strong signal to the mining industry that the country's capital markets are viable instruments for fast tracking the development of large mining projects. He said the Marcos administration is committed to continue creating an enabling environment for mining activities to flourish in the country as he looks forward to similar listings in the future. “We recognize that apart from boosting local development, mining is a strong magnet for investments that can propel our economy into a higher growth trajectory,” he added. Diokno said the government expects the mining industry to strictly adhere to responsible and sustainable mining practices. He said the mining industry should strike a balance between protecting the environment, uplifting local communities, and supporting the government’s socioeconomic agenda. “This is a non-negotiable condition so we can guarantee the sustainability of the industry and the strong economic growth of its host communities,” he said. Article courtesy of the Philippine News Agency
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