PEZA says Chinese, Japanese firms interested in mining investments

THE Philippine Economic Zone Authority (PEZA) said it has received expressions of interest from foreign minerals firms, indicating possible new entrants since the disruptions caused by a crackdown on the industry ordered by former Environment and Natural Resources Secretary Regina Paz L. Lopez.

PEZA Director- General Charito B. Plaza said the approaches are from “Japanese and Chinese” companies apart from a confirmed partnership forged by a Russian firm for a mineral processing plant in Surigao del Sur, for which PEZA expects a registration application for investment incentives.

“Since they already have [ established] a partnership, we’re just waiting for them to register their joint partnership with us,” she said.

Ms. Plaza said that Taganito HPal Nickel Corp. and Coral Bay Nickel Corp., the only two PEZA-registered mining firms, also expressed an interest to expand operations after PEZA signed a memorandum of agreement (MoA) with the Philippine Mining Development Corp.

PEZA promotions group manager Elmer H. San Pascual confirmed the Russian firm’s interest earlier, saying that the potential investor is currently doing due diligence.

“They have to check if there are also mineralized countries in the Southeast Asia. I don’t know as well what kind of minerals they are particularly looking for,” he added.

Mr. San Pascual said PEZA only works with mineral processing projects geared for export, and not purely mineral extraction operations.

The Philippine Mining Development Corp MoA signed last year will lead to a creation of a technical working group for the future implementation the agro- forestry and mineral processing economic zones once the detailed proposal is approved by Environment Secretary Roy A. Cimatu.

“[ This technical working group will] really focus on the study of how we are going to implement the agro- forestry ecozone and the mineral processing economic zone so that we can restore the wood industry and put in order the mining industry and the mineral processing industry,” she added.

The Philippine Mining Development Corp. administers 60,000 hectares of mining land.

Ms. Plaza said she met with Mr. Cimatu in late December for the economic zones.

The plan is to further regulate the mining and forestry industries, including a proposal for forestry plantations and a process for certifying which types of wood are used by processors, as well as the sustainability of the forest source, which is required by certain markets for wood products.

“In our concept of an agroforestry economic zone… that is also where we can put all the wood- based industries like furniture- making, plywood, veneer, and those who will manufacture wood doors, wood floors,” she added. —