Yes there is gold in the Philippines.
Philippines is one of the most highly mineralized region in the world. Second only to South Africa. Some believed including myself as the Biblical land of Ophir.
We envisioned ourselves to follow these guiding principles:
- Protection of the Environment.
- Path to Economic Prosperity
Backed by many years of solid international experience among it's directors, the company is determined to make a niche in the development of mineral resources. It particularly cater to the sites owned by the tribal communities of the Philippines. The projects are carefully selected and determined to be ecologically sound, technologically minable, and profitably structured. The company is presently operating a lode gold mining operation in Agusan del Sur. It is also poised to commence the development of a large area of epithermal gold mineralization in central Mindanao, Philippines. The area lies in the vicinity of extremely rich gold mining centers in Davao del Norte.
MINE DEVELOPMENT AT MAPUTI AREA LOCATION : MAPUTI, SANTA CRUZ, ROSARIO, AGUSAN DEL SUR The Mine is located at Maputi, Sta. Cruz, Rosario, Agusan Del Sur. It can be reached by via a 189 km. ride from Davao City to Sta. Cruz along the Maharlika Highway and a 3 km. ride from Sta. Cruz up to Mine site. The area is within the mineral claim blocks of Bernster, represented by Perkins Curugan. This was operated previously by the Oro-Mines way back in 2000. Production from this area yields high-grade ore ranging from as low as 3.00 grams per bag to as high as 25.00 grams per bag by amalgamation process. The management of Oro Mines, however, ceased its operations after 4 years due to presence of abundant water, collapsed of Mine openings and prevailing low price of gold.
MINE DEVELOPMENT : A cross-cut of 300.00 meters from Sarip area towards the Bonanza area of Oro Mines is hereby proposed. This will serve as Main Haulage Level, Drain Tunnel and Exploratory Drive. The possibility of intercepting new veins structure along the cross-cut before reaching the target area is high due to the on-going activities of gold panners at surface.
PRODUCTION FORECAST : Based on the attached Accelerated Mine Development and Production Program, Ore Production will start on the 8TH month and gradually increased up to the 14th and thereon. Drift east and west at Level+5 will be driven simultaneously to determine the strike length of the vein and to open up new headings for Winze Development. Bulk of ore is expected to come from production levels at the present. We are now operating at this area with 15 miners and we have now 7 set doing with blasting. So the target of high-grade is about 8 set per exploration of Philsaga.
The Philippines is a major producer of gold and byproduct silver, copper,chromite, and nickel. It has also a large undeveloped potential in iron, manganese, perlite, marble, and other metals and minerals.
The richness of Philippine mineral wealth is clearly seen when compared with that of other countries. To be realistic however, the size of each country should be taken into account, for the Philippines is relatively small.
Thus in a study conducted by the Asian Development Bank in 1987, the annual production for producing countries is divided by their respective areas to obtain “output per square kilometer”, which is a useful measure of mineral richness and prospectability. The Philippines is outstanding in this respect.
In the output of it’s four major products-gold, copper, chromite and nickel, the Philippines ranked among the top eight countries in the world.
The Philippine archipelago is the result of a wide variety of geological processes which have operated since late Paleozoic time, perhaps earlier. Thus it comprises a great range of rock formations, mainly intermediate volcanic intruded by igneous bodies of rather similar composition, and a great series of sedimentary derivatives including limestone. The assemblage falls into the category of “continental crust”, unlike most of Pacific Islands which are of “oceanic crust”. The later material is generally barren of any significant mineralization.
Structurally the Philippines lies just above a major zone of crustal subduction, where the Pacific oceanic plate plunges westward beneath the continental crust of the archipelago. Subduction zones give rise to volcanic belts and related areas of mineralization, especially of gold and copper. The Philippines has many subduction zones of various ages, and these help to explain the distribution of rich mineralization.
Philippine Mining History
Chinese traders as far back as the 3rd century AD referred to Luzon as the “Isle Of Gold”. Placer continuos to provide a significant portion of the national output, but most reported production presently is from vein deposits, and as byproduct from disseminated copper mining.
Copper was mined in antiquity, and was exploited from rich veins in the last century. In the mid 1950’s very large bodies of low grade disseminated copper were opened, and they supply virtually all of the nation’s production. These are smelted and refined in the Philippines.
Chromite mining started in the mid-1930’s. Deposits include the world’s largest known occurrence of refractory chromite. Widespread metallurgical and chemical chrome deposits are mined, mostly by small-scale miners.
Nickel occurs as surface laterite, similar to that in New Caledonia and Indonesia.
These have ranged from Royal Spanish Grants (Pre-1898) through an early American Mining Bill, the Mining Act of the 1st Philippine Republic in 1936, to yet another Act under the Marcos regime (1976). In general most of these Acts discouraged foreign investments, limiting to 40% and forbidding the holding of claims by foreigners. Moreover, there were serious restraints on the repatriation of profits.
The new constitution of 1986 restated that minerals belong to the State as in Canada. Both government and industry saw this as a needless discouragement of foreign investment in mining , and took steps to overcome it. Thus after many meetings and discussions, a new code was drawn up whereby mineral rights would be acquired under Mineral Production Sharing Agreement (MPSA). Each agreement is negotiated separately, but the net sharing of income remains almost unchanged. A welcome improvement is that foreign entities can now enter the field up to 100%, and repatriation of all profits is assured.
Address: Sta. Cruz ,Rosario Agusan del Sur