MANILA, Philippines - The Australian government has renewed its offer of a A$5-million grant to conduct an aero magnetic mapping for the Philippines to help accurately map its mineral resources.
Australia’s grant offer dovetails with Environment and Natural Resources Secretary Ramon Paje’s instruction to the Mines and Geosciences Bureau to embark next year on a search for rare earth elements (REE) following the move of China to restrict its REE exports.
However, the Philippines, Paje said, still has to carefully study Australia’s grant offer with regard to possible intellectual property rights (IPR) issues.
Under Philippine mining laws, Paje said, entities which explore and discover the minerals resources have the right to develop it.
The Philippines, Paje said, wants to ensure that Australia does not impose any conditionality that would bind the Philippines to prioritizing Australian/Australian companies to developing whatever mineral resources are discovered and identified as a result of the aero magnetic mapping.
Paje acknowledged that Australia’s offer to do the aero magnetic mapping is most welcome especially since the Philippines does not have the capability to do the mapping on its own.
“I personally welcome the offer. It will be good for us to know exactly what mineral resources we have,” Paje said.
In a related move, Paje plans to allocate P20 million to the MGB next year to embark on the search for REE.
Paje issued the instruction of MGB director Leo Jasareno following reports that China, which produces 97 percent of all REEs, is restricting the export of such elements.
Rare earth elements such as basnathite, Jasareno explained, are vital in the production of electronic items such as the iPad, while monazite is used in the production of automobile catalytic converters.
There are 17 REEs, Jasareno said, with most found in copper deposits.
According to Jasareno, Paje wants the MGB to develop the country’s REE production as a safeguard against the move of China in restricting the export of its REEs.