Mining attracts multiple players
Land banking can occur offshore as well as onshore and must be curbed in the greater interest of spurring this new industry to contribute to the country’s recovery
The lifting of the mining moratorium and the ban on open-pit mining could revive the domestic industry, igniting hope from investors from across the globe to explore opportunities in the country, the Offshore Mining Chamber of the Philippines (OMCP) said over the weekend.
Mining, after all, is an economic bedrock in many countries, with emerging economies and developed nations benefitting from its role in inclusive growth, social development and poverty alleviation.
The OMCP said “it has been receiving many expressions of interest from major world players in offshore mining to explore opportunities in the country.”
Among the companies that offered their interests are Primetals Technologies of Austria, Duro Felguera of Spain, funders from Switzerland, international JORC, and VALMIN professional practitioners from Singapore, Indonesia, Europe and Australia.
Other offshore mining-related companies from Indonesia, Malta, Australia, China, Hong Kong, and Japan signified interest in investing in the country.
The Japanese companies are comprised of Nakanishi Shipbuilding, Kurimoto Iron Works, Kansai Design Company, and JTrade Company.
However, the OMCP suggested that the national government should approve offshore mining tenement applications from legitimate offshore mining companies with adequate capital, proven technical expertise, and capability to engage and deploy offshore equipment for proper exploration, seabed scientific research and sea bottom profiling facilities.
OMCP chair Gary Olivar said the Mines and Geosciences Bureau (MGB) of the Department of Environment and Natural Resources (DENR) should review its mine tenement ownership systems and processes to delist inactive tenement claims.
“Land banking can occur offshore as well as onshore and must be curbed in the greater interest of spurring this new industry to contribute to the country’s recovery,” he added.
Olivar also lauded one of OMCP’s members, Cagayan Blue Ocean Offshore Aquamarine Services Corporation (CBO), which invested heavily in an offshore exploration tugboat named “AHTS NOAH.”
After paying all applicable duties and taxes, the vessel is docked in the Port of Manila for deployment off Cagayan and Pangasinan waters for offshore scientific exploration, environmentally safe dredging of flood-stricken areas, and widening of rivers and the offshore regions.
It has been receiving many expressions of interest from major world players in offshore mining to explore opportunities in the country.
With specialized equipment, including the HY600 HC cable dredge, the “NOAH” can scan up to 100 meters below the sea crust to properly quantify mineral resources under the ocean.
Its capability to conduct sea bottom profiles under the seabed can identify objects to be avoided, like corals, cables, vintage bombs, sunken vessels and others.