Wednesday, May 12, 2010

Just ask - Any mining in gamu Isabela ?

Hi Tee Seng in Gamu I guess so far I do not know of any mining activity however one my associate told me in Ilgan Isabela there was a multinational firm engaged in a number of mining projects in the country is set to conduct a joint mining project with another Filipino-owned mining consortium for the further extraction of nickel in this province’s southeastern coast. 
Geograce Resources Philippines Inc. has entered into an agreement with Platinum Group Metals Corp. (PGMC) for an exclusive right to operate and develop a portion of the latter’s Isabela nickel project in the province’s coastal mineral-rich Dinapigue town. The country, is one of the world’s top contributors of nickel, a type of mineral used for making alloys and also an important component in steel, magnets, coinage and green tint processing.

PGMC, which has been granted a mineral production sharing agreement (MPSA), has an existing nickel project covering at least 2,000 hectares in Dinapigue, which lies in the province’s southeastern border with Aurora. Of the total mining area, 45 hectares of which would be exclusively operated by Geograce under a profit sharing agreement with PGMC. According to the deal, the partnership would be renewable every six months.

PGMC, a consortium of mostly Filipino businessmen, led by the Atayde family, has the right to extract two million metric tons of nickel every year in its designated project area as embodied in its MPSA with the National Government as well as in its environmental compliance certificate issued by the Department of Environment and Natural Resources. For its part, Geograce, which also recently entered into a multi million-peso deal with a Brazilian mining giant for gold and copper explorations in the Bicol region, has exclusive rights to mine  nickel, gold, copper and chromite in around 240,000 hectares of potential sites in the country. It quite extraordinary in Philippine they have so many mining activities happening around this country. I heard that in 1987, paleontologists from the National Institute of Geological Sciences at the University of the Philippines discovered bones of Stegodon in Tres Hermanas, Antipolo, Rizal. Although the name Stegodon an extinct elephant that once lived in the Philippines thousands of years ago.
The bulk of the remains of the Tres Hermanas Stegodon fossils are now curated by the National Museum.

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