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This is exactly why experts say it’s worth investing in mining stocks this year

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By Taga Mindanao, on January 19, 2009

Controversial, Cotabato, Mindanaoan Update, News, Opinion, Sarangani, Socsksargen, South Cotabato, Sultan Kudarat

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No need to look far, really. Central Mindanao is fast becoming the major hub of mining operations in the country. Just recently, a Filipino-owned company has sought from the regional Mines and Geosciences Bureau an exploration permit for copper, gold, and silver deposits in three provinces here in Mindanao. Tao Mohin Resources Corporation is the very first company to formally file an application for exploration permit this year.

And get this – Tao Mohin Resources Corporation shelled out not less than P800,000 just so they can be granted permit to explore 14,831.7 hectares. If the company is willing to pay that much just for “exploration,” you can just imagine just how much it’s willing to invest once it finds that pot of gold (and copper and silver!) The said company is reportedly keen on exploring the towns of Lake Sebu in South Cotabato, Palimbang in Sultan Kudarat and Maitum in Sarangani Province.

Tao Mohin Resources Corporation comes at the heels of other mining companies that have already started operations here in Mindanao. In Tampakan, South Cotabato, Sagittarius Mines Inc. has successfully established its hold in the area. Investors have reportedly spent as much as US $100 Million dollars already for the so-called Tampakan Project. This is exactly why financial experts say that it’s worth investing in mining stocks this year. A lot of economists have high hopes for the Philippine mining industry and I guess the success of the industry largely rests upon the mining operations here in Mindanao.

While I’m all for development and a healthy economy, I still have a lot of reservations when it comes to mining. I’ve always had this impression that mining was for the rich and for the greedy and for those who don’t give a crap about Mother Nature. Let’s hope I’m wrong. Let’s hope that our government agencies know what they’re doing as they issue those permits. Let’s hope that amidst progress, there’s still balance…somehow.