RP, Korea team up for mineral search project in Mindanao

The Philippine and Korean governments will be conducting a more detailed mineral exploration project to determine the commercial potential of existing copper and gold veins in Surigao del Norte in Mindanao.

Mines and Geosciences Bureau (MGB) Director Horacio C. Ramos said the RP-Korea mineral exploration project is the offshoot last year of a bilateral agreement between the MGB and the Korean state-run mining company, Korea Resources Corp. (KORES).

Horacio said preliminary results of the joint project indicate rich copper and gold deposits lying in Malimono, Surigao del Norte which is part of the Surigao mineral district.

The project team, led by Dr. Fernando G. Sajona of the Department of Environment and Natural Resources-MGB, conducted field studies in over 800 square kilometers of mineralized areas in Cabadbaran, Agusan del Norte, and Santiago, Alegria and Malimono.

"It is hoped that a sizeable copper-gold deposit can be disclosed by this exploration activity," Sajona said.

Ramos said the two governments are also looking into the possibility of conducting more exploration activities in other potentially-mineralized parts of the Philippines before the end of the year.

Ramos and Sajona were in Korea last year and got the commitment of Korea President Chun-Taek Park for an expansion of the bilateral RP-Korea agreement.

Park is expected to visit the country between July and August this year to discuss and formalize the expanded agreement through a memorandum of understanding with the Philippines.

South Korea is aggressively pursuing cooperative mineral research and exploration programs with countries recognized for their vast mineral resources like the Philippines because of its increasing demand for metals and metallic products.

Aside from mineral exploration, South Korea is also urging Korean private sector companies to invest in the Philippines in the form of joint ventures and equity participation.