Transcript of Mineral Resources in the Philippines Notes Metallic Mineral Production Philippine Gold Production Philippine Copper Production Mineral Resources in the Philippines What are mineral resources? In the Philippine Setting With untapped mineral wealth worth more than $840 billion, the Philippines is “one of the world’s most highly mineralized countries. Metallic Mineral Production The Philippines is situated along the Circum-Pacific Rim of Fire, where the processes of volcanism and plate convergence caused the deposition of minerals, both metallic and non-metallic. In fact, the large reserves of various kinds of minerals beneath our ground has put the country in the world mineral map as Non-metallic Mineral Production Limestone Philippines has 1800 hectares of limestone mining deposit area in Guimaras. Protecting the Mineral Resources The richness of the Philippines in terms of mineral resources is being attributed to its location at the western fringes of the so-called Pacific Ring of Fire – a ground found to be super loaded with mineral deposits. It is an occurrence of natural, solid, inorganic or fossilized organic material in or on the Earth’s crust in such quantity and of such quality that it can be used for economic productivity. The Philippines is the fifth most mineral-rich country in the world for gold, nickel, copper, and chromite. It is home to the largest copper-gold deposit in the world. The Mines and Geosciences Bureau has estimated that the country has an estimated worth of untapped mineral wealth. $840 billion Types of Mineral Resources Non-Metallic Minerals Mineral Fuel Metallic Minerals A metallic mineral has a distinctive, shiny, metallic luster. Metallic minerals such as gold and silver are also economic minerals. These are valued as beautifully collectible pieces and also for their potential industrial use. These are noncombustible solid rocks or minerals used in industry and construction in natural form or after mechanical, thermal, or chemical processing or for the extraction of nonmetallic elements or their compounds. It is a type of fuel mined or stripped from the Earth. US Department of State in hectares Philippines Total Land Area 9 Million 5 Million and potential mining reserves In all, the country’s estimated mineral reserves are placed at about 14.5 billion metric tons of metallic minerals and about 67.66 billion metric tons of non-metallic minerals. Among our important metallic minerals found in abundance in various parts of the country are Gold Nickel Copper Iron Chromite Cobalt Platinum while our non-metallic resources include Limestone Marble Gravel Sand Clay 2012 The decline was primarily caused by the more strict implementation of mining taxes under the Aquino administration. Also, a Philex Mining Corporation (biggest gold miner in the Philippines) accident occurred last 2012. 1 gram 1700 Pesos 24 K The copper mining industry, in contrary to the gold industry, has reached new heights since 2012. 1 pound 175 Pesos Benguet, Surigao and Davao are main gold mining sites. The mining area is conservatively estimated to contain at least 500 years of limestone deposit (2 million tons per year mining rate). marble Romblon is the Marble Capital of the Philippines. Cobrador Island in particular has deposits of rare black, gold and green marbles. There are still some sectors in Philippine society that look at mining as an environmental menace and one of the causes of environmental degradation. Notwithstanding the great efforts of the government to promote the minerals industry, mining projects are finding it difficult to take off because of sustained anti-mining sentiments. RA No. 7942 All mineral resources in public and private lands within the territory and exclusive economic zone of the Republic of the Philippines are owned by the State. It shall be the responsibility of the State to promote their rational exploration, development, utilization and conservation through the combined efforts of government and the private sector in order to enhance national growth in a way that effectively safeguards the environment and protect the rights of affected communities. Weaknesses Strengths Opportunities Threats The government considers the minerals industry as one vital to both national and regional economic growth and as a real catalyst to community development. Not only in generating employment, taxes and foreign exchange earnings for the country, but also in contributing positively to socio-economic development of local government and host and neighboring communities. This is the reason why there is a strict implementation of laws regarding the protection of these mineral resources. The industry continually positions itself – a healthy sign considering its traditional role in the country’s economy, exploration and mine development is for the creation of wealth and should not seek to destroy other forms of natural and environmental resources or wealth. Mineral Fuel In 2008, the mining and quarrying sector contributed 1.70% of the Philippine gross domestic product (GDP). The construction sector contributed 4.63% of the GDP in 2008 compared with 4.5% in 2007, which was an increase of 2.9% (Bangko Sentral ng Pilipinas, 2009). Being a country rich with various mineral resources , it opens us up to other countries willing to buy our minerals for a good price , thus helping not only our economy but the name of our country as well. Minerals are mostly nonrenewable resources, so the depletion of these resources are a threat to the industry and the countrys economy as well.
Posted on: Mon, 01 Dec 2014 11:48:16 +0000
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