The Philippines is situated along a well-defined belt of volcanoes called the Circum-Pacific Rim of Fire where the processes of volcanism and plate convergence resulted in the formation of abundant and important metallic mineral deposits. It is considered one of the countries that are richly endowed with metallic resources and it has the potential to be among the top ten largest mining powers in the world. In terms of occurrence per unit area, it ranks third in gold, fourth in copper, fifth in nickel and six in chromite. The presence of major foreign mining companies such as Anglo-American, BHP Billiton, Sumitomo Mining and Xstrata attests to the attractiveness of mining in the Philippines (2010):
  • Exports of common metallic minerals extracted in the Philippines (2010):
Category Mineral FOB (in million USD) % of Total Value
Precious Metals Gold 16.62 5.35
Silver 2.55 0.82
Base Metals Copper 7.41 2.39
Iron & Ferro-Alloy Metals Nickel 276.42 89.06
Chromite 7.39 2.38
Source: BETP
  Market Opportunity
  • surging mineral demand from rapidly industrializing economies like China and India
  • continuous importation of mineral ores of Australia, Japan and other trading partners in Asia
Philippine Advantage Rich mineral sources
  • only 2.85% the 30 million hectare land area is covered by mining permits
  • an estimated 9 million hectares is regarded as geologically prospective for metallic minerals and this is expected to increase further with continuing explorations and geological mapping
  • ore reserves:
    Ore Reserves Million MT (2005)
    Gold 3,056
    Copper 2,968
    Nickel 953
    Chromite 18
    Iron 410
    Aluminum 292
  • discovery of new sites with potentially world-class deposits differentiated from previous discoveries that were of low grade and shallow-seated:
  • Tampakan (copper) which represents one of the largest undeveloped copper-gold deposits in the South East Asia-Western Pacific Region
  • Far Southeast (copper-gold) and Boyongan (copper)