Monday, August 14, 2017

U.S. Cable: Philippines has $1T untapped mineral wealth

"Based on incomplete data and unconfirmed reports, the Philippines may have untapped mineral wealth worth between US$ 840 billion and US$ 1 trillion. (The U.S. Geological Survey hopes soon to conduct a more comprehensive survey of minerals, with funding from the GRP.) A special advisor on the GRP-MILF Peace Process in the Office of the President recently described Mindanao in particular as "a treasure trove" of mineral resources, including gold, copper, nickel, manganese, chromite, silver, lead, zinc, and iron ore. According to data from the GRP Mines and Geosciences Bureau, up to 70 per cent of the Philippines' mineral resources may be in Mindanao." (thanks Amir)