Monday, January 2, 2012

A mining company in Canada has a mine in the Philippines

My wife is from the Philippines, so naturally I am interested in the cultures and economic development of the country. I recently found out that there is a mining company in Canada that is dedicated to the development of the Taysan Copper-Gold Porphyry Project. The project is 11,254 hectares in size and has two known deposits; one of which is the Antipolo Epithermal Gold Mine, and the other is the Taysan Deposit: which is a large copper-gold porphyry deposit. In case you are not familiar with the term porphyry deposit; it means that the deposit has formed during the transition and cooling of magma to rock. Porphyry copper deposits are the largest known source of copper ore.

The Taysan Project is not new; it dates back to 1968, and has 195 drill holes totaling 44,531m. The project has an expected 25 year mine life with a payback of about 3 years. It's a highly feasible venture because the first 7 years are projected to have exceptionally low production costs with a much lower strip ratio than the industry average. The Taysan Project contains not only gold and copper, but also silver, magnetite, and other by products as well.

I am glad that my wife's native country is showing signs of improved economics. I'm sure that the Taysan Project will help a lot by furnishing jobs for many. The Project is located in Batangas Province, on the south west side of Luzon Island. It's about 100km south of Manila.

No comments:

Post a Comment