Tuesday, February 10, 2009
11 JAPANESE MINING FIRMS, TRADERS PLAN RETURN TO RP
Publisher: Manila Standard Today
Author: Christine F. Herrera

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MANILA: Seven of 11 Japanese mining and trading companies, which used to have investments in the Philippines, have expressed interest to return after a study showed promising ore deposits in the country.

The Japanese government commissioned the Japan Mining Engineering Center to conduct the study on the potential of the Philippines' mining industry in its effort to secure ore to sustain international competitiveness.

"Amid falling metal prices, it is important to steadily promote efforts to secure important mineral resources in the long term," said JMEC managing director Shinyo Aoki. The study did not identify the 11 Japanese mining and trading companies.l

The 32-page study, titled "The Investigation Report Related to Mining Field in the Philippines," a copy of which was obtained by Standard Today, named the highly ranked mineral resources as copper, nickel, gold and chrome.

Aoki and research engineer Toshimasa Tajima briefed Filipino and Japanese mining executives and government officials at the Makati Shangri-la Hotel on the results of the study on Friday.

Tajima said the subjects of the survey were 10 Japanese mining companies and six trading firms.

"With regard to the question of the potential of the mining industry in the Philippines, out of 16 companies, 15 answered that the mining industry has potential, the Japanese companies deem the Philippine mineral potential to be very promising," said Tajima.

The Philippines ranked first when these firms were surveyed as to the "high potential" of the country in mineral deposits. Indonesia was second, followed by Myanmar, Vietnam and Laos and Cambodia.

He noted that the Philippines was a large producer of copper, with the bulk exported to Japan.

Aoki said the "unstable and unreliable supply" of imported raw materials of ore prompted the Japanese government to venture into mining globally.

Link to original article: http://www.manilastandardtoday.com/?page=business2_feb10_2009

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