China mining firm to invest in Zambales mineral exploration
A memorandum of agreement covering a $150-million joint venture for geological mineral exploration and processing in a 35,000-hectare land in Botolan, Zambales was signed between two Philippine-listed companies and a Chinese company Wednesday.
Former presidential spokesman and chairman of the companies Michael Defensor signed in behalf of Nihao Mineral Resources International Inc. and Geograce Resources Philippines Inc., while company president Zhong Xiaoyun signed in behalf of Jiangxi Rare Earth and Rare Metals Tungsten Group Co. Ltd., a mining company in Nanchang province.
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12 Australian mining firms in RP compliant with standards, says envoy
THE Australian envoy to Manila has maintained that all 12 Australian mining firms operating in the country submit to the “highest safety and environmental standards,” amid complaints of human-rights abuse against one Australian firm operating in Nueva Vizcaya on charges of killings, harassments and mass displacement of indigenous tribes.
Australian Ambassador to Manila Rod Smith said he is not aware of the human-rights abuse complaints filed against the mining company OceanaGold Philippines Inc., which operates the $320-million copper-gold mining project in Didipio in Nueva Vizcaya province. Read more
Geograce signs exploration deal with foreign miner
Philippines–Geograce Resources Philippines Inc. on Tuesday said it had signed an exploration and option agreement with Vale Exploration Philippines Inc., a subsidiary of Companhia Vale do Rio Doce, which it described as the second-biggest mining company in the world, for exploration of seven mining claims containing copper and iron ore in Masbate province.
Vale has committed to fund exploration expenditures of up to $6 million for the first two phases of the exploration agreement. This will include geological sampling up to drilling and other exploration activities. Read more
