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By Chino S.
Leyco, Researcher
BHP Billiton,
a leading mining company in Australia, plans to infuse huge
investments in the Philippines, Environment Secretary Angelo T.
Reyes said.
In a
statement, Reyes said Billiton eyes a possible investment of $1
billion in a nickel prospect in the country.
Billiton
executives are now in the country to visit the Hallmark (formerly
Pujada) Nickel Project now ongoing in the Pujada Peninsula in Davao
Oriental.
Reyes added
that the company reiterated its commitment to invest in the country
through the Hallmark Project, which, in his view, signifies its
intent to look for more substantial nickel deposits in the
Philippines.
“They were
very upbeat on the developments of the Hallmark Project, and they
brought up the possibility of building its own nickel processing
plant here should the volume of deposit from Hallmark and other
local sources so warrant,” he said.
The nickel
processing plant, if it pushes through, would mean additional
investments worth $1 billion as well as higher value for the
country’s nickel resources.
The Hallmark
Nickel Project is a potentially large nickel deposit covering an
aggregate area of 11,799 hectares in Mati, San Isidro, and Governor
Generoso in Davao Oriental. Billiton conducts exploration activities
in the area in partnership with local companies Hallmark Mining
Corp. and AustralAsia Link Mining Corp.
The Billiton
officials also met with Reyes at the sidelines of the recently
concluded APEC Ministers Responsible for Mining conference held in
Perth, Australia, where they first presented the company’s
prospects in the Philippines.
Current
estimates of Hallmark Project’s nickel deposit based on more than
600 drill holes is placed at about 150 million MT at 1.3 percent
nickel.
The project is
scheduled to commence construction in 2010.
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