A FILIPINO-owned mining firm is investing P751 million for a nickel mining and processing project in Carrascal, Surigao del Sur.

C.T.P. Construction and Mining Corp. will now pursue its mining project in the area after its extensive exploration from the latter part of 2006 to December 2007 allowed the company to identify a mineable reserve of 17,046,196 WMT of nickel.

The 100-percent Filipino-owned firm’s project will involve the mining and processing of nickel ores with grades ranging from 1 percent to 2.5 percent nickel.

The project qualified for full incentives from the Board of Investments (BOI) under the still-in- force 2007 Investment Priorities Plan (IPP).

“The firm will produce beneficiated nickel ore at an annual capacity of 2 million WMT, which is intended to be exported to China,” the firm’s project profile filed at the BOI said.  The company is scheduled to start commercial operation in August.

Carrascal, Surigao del Sur, was identified as one of the less developed areas in the 2007 IPP and was listed by the National Statistics Coordinating Board as sixth among the 30 poorest areas in the country.

This is despite the presence of vast mineral deposits there like gold, silver, iron, chromites and allied minerals.

There are also proven deposits of coal and manganese, and it is believed that platinum and allied minerals are also present.

During the mining industry’s more than 10 dormant years, the province’s metallic deposits were not exploited due to lack of demand and low metal price.

“This new project will economically help the province of Surigao del Sur. The firm’s nickel project will generate 390 jobs to Filipino workers,” the project’s profile said.

PRIVATE think tank Ibon Foundation Inc. believes the government can ensure the public of cheaper rice prices by strengthening the National Food Authority (NFA), doing away with trade liberalization and resisting creditor pressure.

A FILIPINO-owned mining firm is investing P751 million for a nickel mining and processing project in Carrascal, Surigao del Sur.

MILITANT groups reiterated Tuesday the call for legislated wage hike and urged President Arroyo to certify as urgent the P125 wage-hike bill in the wake of the increasing price of rice and other basic commodities in the Philippines.

AMID rising criticisms of the country’s statistical agencies, the National Statistical Coordination Board (NSCB) has urged the government and the private sector to increase their investments in statistics.

ONE of the largest banks in Germany, Bank IM Bistum, based in Essen will set up a microfinance system in the Philippines to provide fund assistance to small farmers and rural communities, identified as the most vulnerable sectors in the food crisis in the country.

MAYOR Arlene Arcillas Nazareno of the city of Santa Rosa will be the guest of honor and speaker of Eternal Gardens Memorial Park when it honors its top sales producers at its annual awards on  April 17 at Wack Wack Golf Club in Mandaluyong City.

OPPONENTS of the Japan-Philippines Economic Partnership Agreement (Jpepa) chided President Arroyo’s pitch Monday for the senators to approve the controversial treaty when Congress resumes sessions next Monday.