Japanese companies eye Philippine resource potential with great interest - International Mining - Feb 11, 2009
www.im-mining.com/2009/02/11/1394/ HEY WATCH OUT!!! BE SURE ITS MINING THEY ARE TALKING??---ITS THEIR OTHER WAY OF GETTING BACK TO THE GOLDEN LILY SITES EHHH??
BEN VALMORES
"Mindoro Resources reports that seven of 11 Japanese mining and trading companies, which used to have investments in the Philippines, have expressed interest to return after a study showed the geological promise of the country. The Japanese government commissioned the Japan Mining Engineering Center (JMEC) to conduct the study on the potential of the Philippines’ mining industry in its effort to secure ores to sustain international competitiveness. “Amid falling metal prices, it is important to steadily promote efforts to secure important mineral resources in the long term,” said JMEC Managing Director Shinyo Aoki.
The 32-page study, The Investigation Report Related to Mining Field in the Philippines, did not identify the 11 Japanese mining and trading companies. It listed the highly ranked mineral resources of the Philippines as copper, nickel, gold and chrome.
Aoki and Research Engineer Toshimasa Tajima briefed Filipino and Japanese mining executives and government officials last week. He said the subjects of the survey were 10 Japanese mining companies and six trading firms.
“With regard to the question of the potential of the mining industry in the Philippines, out of 16 companies, 15 answered that the mining industry has potential, the Japanese companies deem the Philippine mineral potential to be very promising,” said Tajima.
The Philippines ranked first when these firms were surveyed as to the “high potential” of the country in mineral deposits. Indonesia was second, followed by Myanmar, Vietnam and Laos and Cambodia. Tajima noted that the Philippines was a large producer of copper, with the bulk exported to Japan.
Aoki said the “unstable and unreliable supply” of imported raw materials of ore prompted the Japanese government to venture into mining globally. "