26 Mining Projects to Start This Year
At least 26 mining projects will start this year.
According to Mines and Geosciences Bureau (MGB) director Wilfredo Moncano, these projects have already finished their documentary requirements, allowing them to proceed with development.
“These are MPSAs (mineral production sharing agreements) that had waited for a long time to develop and commercially operate and think now is the right time because of the high demand for aggregates, sand and gravel, limestone as cement feed, and other construction industry raw materials,” he said.
Because of the recent effects of the pandemic, the government has been thinking of ways to boost the economy. One of those experiencing robust growth is mining - which can improve the economy through taxes, increased exports, and employment.
In addition, the mining sector has already been enjoying good costs for most minerals.
Moncano said that these mines include eight metallic mines and 18 non-metallic mines.
“Although most of them are in the non-metallic category, these new mining projects support the Build Build Build program of the government,” he said. “The metallic mines have a longer development period even up to three years but, yes, within the year, all these companies will start development works.”
Larry Heradez, Mining Tenements Management Division chief of MGB, said the $750-million Silangan copper and gold project in Surigao del Norte of Pangilinan-led Philex Mining Corp. is one of the 26 firms expected to begin this year.
This is also a response to the rising demand in China as consumption remains strong, and where 90 per cent of the country’s nickel exports goes to that country.