Although the industry suffered a sharp decline in the number of its operating mines, it has been vibrantly performing in the exploration area. So far, there are forty-four (44) exploration projects in the country. Five (5) of them are now in the advanced stage of exploration. Majority of these exploration projects are conducted by foreign exploration companies. They have acquired interest in most of the exploration prospects that have not been pursued previously by Filipino companies who lack the necessary funds to conduct a full-scale exploration program. The following are some of the currently active exploration projects by foreign companies:

1. Advanced Exploration Stage

1. Buyongan Copper Project in Surigao del Norte by Anglo American Explo. Pty Ltd.
   
2. Tampakan Copper Project in South Cotabato by a consortium of Indophil Resources, MIM Ltd and a group of Filipino investors
   
3. Adlay Nickel Project in Surigao del Norte by QNI, Ltd. and BHP-Billiton
   
4. Canatuan Gold Project in Zamboanga del Norte by TVI Pacific, Inc.
   
5. Manat Gold Project in Davao del Norte by Indophil Resources, NL.

2. Preliminary Exploration Stage

1. Cordillera Gold Project in Benguet by Anglo-American Explo. Pty., Ltd.
   
2. Surigao Copper-Gold Prospect in Surigao del Norte by Climax Mining Ltd.
   
3. Siana Gold Project in Surigao del Norte by Red 5 Resources NL
   
4. Labo Gold Project in Camarines Norte by Indophil Resources, NL
   
5. Leyte Gold Project in Eastern Leyte by Indophil Resources, NL
   
6. Pao Gold Project in Nueva Vizcaya by Oxiana Resources, NL
   
7. Southern Leyte Gold Project in Southern Leyte by Oxiana Resources, NL
   
8. Surigao Gold Project in Surigao del Norte by Oxiana Resources, NL
   
9. Gambang Gold Project in Benguet by Oxiana Resources, NL
   
10. Del Gallego Gold Project in Camarines Norte by Phelps Dodge Explo. Corp
    
11. Pujada Nickel Project in Davao Oriental by QNI, Ltd. and BHP-Billiton
    
12. Batoto Gold Project in Davao del Norte by Sur American Gold Corporation
    

13. Bayugan Gold Project in Zamboanga del Sur by Templar Resources, Inc.

14. Pan de Azucar Project in Iloilo by Mindoro Resources Ltd.

15. Lobo Copper-Gold Project in Batangas by Mindoro Resources, Ltd.

16. Acoje Chromium-Platinum Project in Zambales by Kinloch Resources, Inc.

17. Mabuhay Gold Project in Surigao del Norte by Pelican Resources, Inc.

18. Libona Gold Project in Bukidnon by Great Horizon Natural Res. & Devt Corp

19. Pamplona Sulfur Project in Negros Oriental by Crew Development Corp.

20. Tagpura Copper Project in Compostela Valley by Sur American Gold Corp.

21. Runruno Gold Project in Nueva Viscaya by Filminera Group.

22. Kematu Gold Project in South Cotabato by Tboli Mining Corporation

23. Hixbar Polymetallic Project in Albay by Lafayette Mining Corporation

24. Samar Bauxite Project in Western Samar by Alumina Resources, Inc.

25. Negros Gold Project in Negros Oriental by PNOC-EDC.

26. Alicia Gold Project in Zamboanga del Sur by PNOC-EDC

27. Leyte Gold Project in Leyte by PNOC-EDC

28. Nelesbitan Gold Project in Camarines Norte by El Dore.

29. Limestone Project in Davao del Norte by Solid North Corporation

30. Sta Cruz Nickel Project in Zambales by Benguet Corporation

31. Panaon Gold Project in Southern Leyte by Vulcan Industrial Mineral Inc.

32. Road 5M Gold Project in Davao Oriental by Boston Minerals

33. Southern Leyte Copper-Gold Project in Southern Leyte by Up Mines ah Marian Gold Project in Isabela by Medusa Mining Ltd. of Australia

34. Tabuk Copper Project by Wolfland Resources

35. Pantingan Gold Project by Bataan Mineral Exploration

36. Conner Copper-Gold Project in Cordillera