A MOA was signed on Wednesday between two Philippine-listed companies and a Chinese company Wednesday. THE MOA covering a $150-million joint venture for geological mineral exploration and processing in a 35,000-hectare land in Botolan, Zambales.
The MoA also provides for the future construction of an ore processing plant that would increase the yield for purer copper, gold, and nickel eight times from the current 1.5 percent to 12 percent.
Aside from employment and investment, the processing plant would provide "value added" to the raw ore mined in the Philippines.
The Philippines is believed to rank fourth in copper and gold resources, and fifth in nickel.
If the resources are indeed found, that would mean billions of dollars of investments, employment especially for upland dwellers, and an environmental program after the minerals have been mined.
5 comments:
this could boost our economy because employment would increase, more money will come in and more investors will come. but the government should keep an eye on this project so that our land will not be destroyed.
Foreign investments such as this can help our economy and employment. I'm glad that these resources can finally be utilized and traded.
I think this is a great deal for both because we really need to make this country more updated and developed and its great that there can be much more employment and investments to help out the countries revenues.
this i great it will bring in more money and more jobs. also ever since foreign investors were allowed to invest on the mines here stock prices went up for minning companies
Yes, it will bring employment to the Filipinos. But let us not forget that this is our natural resources. Instead of letting foreign companies extract and maybe "exploit" our resources, I urge the government invest of the mining sector because I'm sure it will mean a lot of money. Why not let ourselves enjoy the fruit and blessing we have in our own land, instead of giving it to our countries? Don't you think its ridiculous?
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