China and India look into RP’s mining industry
Posted on January 2nd, 2010
Foreign companies are looking at the Philippines as possible investment target in their search raw materials for infrastructure projects. Investors from India and China want to prepare for the global economic recovery and thus are exploring the possibility of investing in the mining industry in the country.
The first one, Indian company SK Resources & SK Transnational Pte Ltd., was said to be looking for potential supplier of iron ore and manganese in the Philippines, according to the Mines and Geosciences Bureau (MGB). SK resources is into metals trading and mine operations. M.L. Sarawagi, director of SK Resources who is based in Singapore said he is scouting for potential suppliers of iron and manganese.
Meanwhile, delegates from China composed of 14 business people and government officials will be flying in to the country. According to MGB, the delegation will be visiting the Philippines to look into the local mining industry.
Members of the delegation include officials of Hunan Chenghe Mining Investment Development Co. Ltd., Wuxi First Construction Engineering Co., Ltd. and Wuxi Longda Metal Sheet Factory.
Another delegation who would be visiting the Philippines soon, includes the Whahaha Group Co. Ltd. The Whahaha is based in Hangzhou, China and is the leading drink maker in China. Company chair Zong Qinghou has been briefed by the MGB regarding the Philippines’ mineral landscape.
According to the report of the MGB, Zong is interested and would like “to gain a comprehensive understanding of the Philippines’ mining sector,” more specifically on possible sources and locations of different mineral deposits in the country.
