The overall goal of revitalizing the minerals industry in the context of sustainable development is expressed in the vision statement of the DENR-Mines and Geosciences Bureau which is to establish:

“a minerals industry that is not only prosperous but also socially, economically and environmentally sustainable, with broad community and political support while positively and progressively assisting in the Government’s program on poverty alleviation and contributing to the general economic well-being of the nation.”

A. Economic Development

The DENR-MGB projects that in the short term (2004-2005), the Government anticipates mining investments of more than US $300 million from five (5) projects, namely:

• Rapu Rapu Polymetallic Project of Lafayette Philippines, Inc. in Albay
• HPAL Nickel Processing Project of Coral Bay Nickel Corporation in Palawan
• Diwalwal Direct State Utilization Project of the Natural Resources Mining Development Corporation in Compostela Valley
• Nonoc Iron Fines Project of Pacific Nickel Philippines, Inc. in Surigao del Norte
• Teresa Gold Project of Lepanto Consolidated Mining Corporation in Benguet

These mining and mineral processing projects were projected to yield annual revenues of US$ 80 to US$182 Million in 2004 and 2005, respectively.

In the medium-term (2006-2008), and considering the overall stability in the investment climate and the major impediments in investments have been addressed, Government expects a US$ 842 Million in additional mining investments from new projects with an annual potential revenues of US$365 to US$764 Million. These investments will come from eight (8) large-scale projects namely:

• Aroroy Gold Project of Filminera in Masbate
• Adlay Nickel Project of QNI and BHP Billiton in Surigao del Norte
• Didipio Copper-Gold Project of Climax Arimco in Nueva Vizcaya
• King King Copper-Gold Project of Benguet Corporation in Compostela Valley
• Canatuan Gold Expansion Project of TVI in Zamboanga del Norte
• Padcal Copper Expansion Project of Philex in Benguet
• Itogon Gold Project of Itogon Suyoc Mines in Benguet
• Toledo Copper Project of Toledo Copper Corp in Cebu.

In the long-term (2009-2013), and considering that the momentum of stability and policy consistency is sustained, additional mining investments can go as high as US$4.6 Billion with annual potential revenues of more than US$ 2 Billion from nine (9) projects namely:

• Far-Southeast Gold Project of Lepanto in Benguet
• Boyungan Copper Project of Silangan in Surigao del Norte
• Pujada Nickel Project of BHP-Billiton/Blue Ridge in Davao Oriental
• San Antonio Copper Project of Marcopper in Marinduque
• Mindoro Nickel Project of Aglubang in Mindoro Occidental
• Nonoc Nickel Refining Project of Pacific Nickel Philippines in Surigao del Norte
• Batong Buhay Gold Project in Benguet
• Amacan Copper Project in Compostela Valley

The minerals industry will be an industry with sustained exploration activities dominated by a new-generation of high-profit potential mines able to absorb the social and environmental costs of modern mining and contributing to the sustained economic well-being of the nation, and in the countryside community development.

In the long term, the MGB expects to create a value-added minerals industry that paves the way for industrialization of the country through the generation of wealth, employment and other benefits and exporting finished products rather than raw materials. During such period, the industry shall have matured into such stage capable of producing/creating:

• Nickel and cobalt metals;
• Copper wires and cables;
• Alumina and aluminum metal through the establishment of an alumina plant and aluminum smelter, respectively utilizing the bauxite deposit in Samar Island;
• Fine jewelry of the highest quality from the original designs of the Filipino craftsman through the utilization of the gold, silver and semi-precious stones from small, medium and large mines in the country;
• High-value non-metallic products;
• Small and medium enterprises that will recycle minerals and metals;
• Opportunities for the development and utilization of manganese polymetals and other offshore mineral resources.