Benguet mulls new Zambales exploration
By MELODY M. AGUIBA, Manila Bulletin
Once Philippines’ largest mining firm Benguet Corp. (BC) is investingg this year about 10 million for exploration in a nickel/chromite-rich zone in Sta. Cruz, Zambales which is envisioned to become an industrialized province with this development.
The Zambales project just received approval from the Mines and Geosciences Bureau-Department of Environment and Natural Resources (MGB-DENR) for its mineral production sharing agreement (MPSA) covering 1,406 hectares.
The MPSA data indicate that the company is targeting to complete construction for the mine’s development within 36 months. However, BC is expected to conduct more exploration activities which will be followed by a feasibility study depending on the decision of the company and its partners.
"We’ll drill something like 40 to 60 holes. It’s just a verification where we’ll base our design of a fullfledged program," Edgar C. Tabanda, BC assistant vice president for exploration, said in an interview.
Programmed expenditure for exploration is P2.04 million on the first year and P1.152 million on the second year while budget for environmental work is P322,500.
Government expects to earn not less than five percent of the value of gross output of the Zambales mineral reservation in the form of excise tax as mandated under R.A. 7729 or the National Internal Revenue Code.
The company is also required to allot one percent of its total mining and milling cost for community development. From these earnings along with the employment that will come from Zambales’ 627,807 population as of 2000, the province is dreamt to become an industrialized, economic mining zone.
The Zambales project in Guisguis, Binagbag, Sta. Cruz has 348 hectares of "economically-interesting" site with significant nickel laterite estimated at 11.94 million tonnes at 1.68 percent nickel.
"The nickel-bearing laterite is a product of natural decay or weathering of ultramafic rocks which sometimes produces economic deposits of chromite, nickel, cobalt, and platinum.
The Sta. Cruz area is known for important nickel prospects as the Acoje project’s 3,765-hectare MPSA is adjacent to BC’s project. Acoje reported that chromite has been mined in this area since the 1960s. Moreover, platinum, palladium with nickel, gold, copper, and rhodium have also been recovered from nickel-sulfide zones of up to 40 meters in the mineralized area.
Once Philippines’ largest mining firm Benguet Corp. (BC) is investingg this year about 10 million for exploration in a nickel/chromite-rich zone in Sta. Cruz, Zambales which is envisioned to become an industrialized province with this development.
The Zambales project just received approval from the Mines and Geosciences Bureau-Department of Environment and Natural Resources (MGB-DENR) for its mineral production sharing agreement (MPSA) covering 1,406 hectares.
The MPSA data indicate that the company is targeting to complete construction for the mine’s development within 36 months. However, BC is expected to conduct more exploration activities which will be followed by a feasibility study depending on the decision of the company and its partners.
"We’ll drill something like 40 to 60 holes. It’s just a verification where we’ll base our design of a fullfledged program," Edgar C. Tabanda, BC assistant vice president for exploration, said in an interview.
Programmed expenditure for exploration is P2.04 million on the first year and P1.152 million on the second year while budget for environmental work is P322,500.
Government expects to earn not less than five percent of the value of gross output of the Zambales mineral reservation in the form of excise tax as mandated under R.A. 7729 or the National Internal Revenue Code.
The company is also required to allot one percent of its total mining and milling cost for community development. From these earnings along with the employment that will come from Zambales’ 627,807 population as of 2000, the province is dreamt to become an industrialized, economic mining zone.
The Zambales project in Guisguis, Binagbag, Sta. Cruz has 348 hectares of "economically-interesting" site with significant nickel laterite estimated at 11.94 million tonnes at 1.68 percent nickel.
"The nickel-bearing laterite is a product of natural decay or weathering of ultramafic rocks which sometimes produces economic deposits of chromite, nickel, cobalt, and platinum.
The Sta. Cruz area is known for important nickel prospects as the Acoje project’s 3,765-hectare MPSA is adjacent to BC’s project. Acoje reported that chromite has been mined in this area since the 1960s. Moreover, platinum, palladium with nickel, gold, copper, and rhodium have also been recovered from nickel-sulfide zones of up to 40 meters in the mineralized area.
posted by OlongapoCity Zambales at
9:42 AM
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