RP has big untapped nickel deposits — exec

There are untapped nickel deposits in the Philippines and it will take time before these minerals can be translated into revenues because of the moratorium in issuing mineral production sharing agreement (MPSA) in mining, an authority in mining exploration revealed.
The source, who is president of one of the biggest nickel ore mining, said the ban serves two purposes — protect the environment and derail the progress in mining potential of the country.
“I can’t estimate how big but there are still a lot of untapped nickel potential,” Dante Bravo, president of Global Ferronickel Holdings Inc., explained to the Daily Tribune.
According to Bravo, the potential of the country’s nickel ore production is hampered. He didn’t blame the moratorium in the issuance of MPSA to the derailed growth of the Philippines’ nickel ore revenues.
However, he said there is no much development in policies followed by the national government to further improve and increase the revenues of the country.
“In terms of policies, no major changes as of yet. But the direction appears to be to improve further on compliance by mining companies,” the official said.
What is strong in the country, according to the mining president, is the opposition to mining operations in various provinces. He described those who oppose mining operations as “getting organized” faster than realizing the potential of the activity to the economic gains of the country.
“Those who are opposed are getting organized and so the industry needs to do more information and education campaign,” he added.
Even the Philippine Statistics Authority recognized that the country’s metal resources are so abundant and it describes the Philippines as an “endowed country.”
“Despite its small area, the Philippines is one of the world’s richly endowed countries in terms of mineral resources.
In 1994, the estimated levels of metallic and non-metallic mineral reserves stood at seven billion metric tons and 50 billion metric tons, respectively.
Copper accounted for the bulk of metallic mineral resources of about 72 percent; while nickel’s share was estimated at 16 percent. Among the non-metallic minerals, limestone and marble accounted for about 39 and 29 percent, respectively.