At least five mining projects will come on stream in the first quarter of 2010 with a combined investments of $185 million, a senior official of the Mines and Geosciences Bureau (MGB) said.

“These are not ‘big-ticket’ projects but they are significant, as they
will contribute to the projected increase in minerals production for
2010,” the official told reporters in an interview on Monday.

One cement production project owned by San Miguel Corp.’s Ramon Ang and
four direct ore-shipping projects will operate within January to March
this year.

Eagle Cement Corp., which will put up a facility in Akle in San
Idelfonso, Bulacan, could spend as much as $160 million for the
project. The project is targeting to service areas north of Manila. A
company official earlier revealed that Eagle Cement is eyeing the
provinces of Nueva Ecija and Nueva Vizcaya.

The cement plant is expected to produce 1.5 million metric tons (MMT)
of cement, or about 35.2 million bags yearly. The plant’s daily output
is expected to reach 4,000 MT, or around 100,000 bags of cement.

Four mining firms, meanwhile, are eyeing to go into direct shipping of
nickel ore. These are Century Peak Nickel Corp., Oriental Synergy, Marc
Ventures Mining and Development Corp., and the mining cooperative based
in Surigao del Norte, the Minahang Bayan ng Mamamayan sa Dinagat Island.

Century Peak Nickel Corp. will spend as much as $10 million. The
company has the capacity to ship out 1 MMT of nickel annually. Oriental
Synergy’s Surigao Nickel project, which has a capacity to ship out 1.8
MMT of nickel annually, will spend about $6 million.

Marc Ventures Mining and Development Corp. has an annual output of 1.2
MMT of nickel and is investing $4.5 million for its venture. Minahang
Bayan ng Mamamayan sa Dinagat Island has already spent $4 million in
its bid to ship out 1 MMT of nickel annually. Recently, MGB projected a
20-percent increase in the minerals production value in 2010. Mining
officials said the agency has yet to finalize the year-end report but
could safely project a 20-percent increase in the value of minerals
production.

Source: Business Mirror

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