Future mining investments seen to boost E. Visayas economy - 8/26/07
Inquirer Money / Breaking News
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Future mining investments seen to boost E.
Visayas economy
By Vicente Labro
Visayas Bureau
Posted date: August 26, 2007
TACLOBAN CITY--The economy of the Eastern Visayas region would improve if its mining sector gets
investments, according to the the regional Mines and Geosciences Bureau.
MGB regional director Loreto Alburo said the bureau has issued mineral production sharing agreement to
several mining companies to allow them to explore sites and gather minerals for laboratory testing.
"There's no actual mining yet," he said, referring to some big mining firms that applied for MPSA recently.
So far, only a few small-scale mining companies are operating in the region, extracting chromite and
phosphate, among others.
Data from the National Statistics Coordination Board show that production of the chromite mining in the
first half of 2007 reached 6,712 metric tons (MT), which was slightly higher than the 6,403 MT extracted
during the same period in 2006.
Alburo projected $50 million investments in three to five years, which would boost the region's economy
and improve its gross regional domestic product (GRDP).
Alburo noted that based on the latest government statistics, Eastern Visayas ranked third from the lowest
in terms of GRDP.
"If mining projects in the region would become operational, hopefully Eastern Visayas could improve to a
much better level (in terms of GRDP)," he added.
NSCB data showed that the Eastern Visayas' per capita GRDP reached only P6,819, higher than that of
Bicol Region's 6,685 and of the Autonomous Region of Muslim Mindanao's P3,486. The national average
GRDP is P14,676.
GRDP is the value of the final goods and services produced in the region for a particular year. The three
major sectors that contribute to the economy include agriculture, the service sector, and the industry
sector, which includes mining.
Eastern Visayas ranks fifth among the regions in the country with huge mineral deposits.
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Future mining investments seen to boost E. Visayas economy - 8/26/07
Alburo described the region as rich in minerals, such as bauxite and manganese in Samar; nickel and
chromite in Eastern Samar; copper and gold in Southern Leyte; magnetite sand and iron ore in the
eastern side of Leyte; and limestone and rock phosphate in the western part of Leyte.
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