Gold mining activities have been known to impact developmental projects as well as people’s lives positively. Hence, places with the deposits of the mineral resource of gold, have been taking advantage of it to change their lives. This is the case with the Philippines, which has seen various benefits from the mining of the precious commodity. Below is an account giving more details about this gold mining venture in this part of the world.
Just like in other countries, the Philippines has great potential for gold mining; the country currently ranks #21 position in terms of gold production at world level. However, some surveys show that the country may rank as high as #2 in regards to total gold reserves. This means that there is huge potential for future mining endeavors in the country.
Gold mining has been deemed a very challenging venture in Philippines despite the potential it has, as a result the industry has not done much in attracting several players to drive the industry to greater heights. In 2017, President Duterte ceased mining at over half of the countries nickel mines, citing environmental concerns. This closure has impacted the gold mining industry as well.
Active Mining Companies in the Philippines
The potential of gold mining in Philippines cannot be over emphasized, as it can be noted from a number of companies running the operations of gold mining in various locations. Such companies include Apex Mining, Benguet Mine, Medusa Mining, Metal Exploration, Oceana Gold, Philex Mining, and St. Augustine Gold and Copper among other companies. From the overwhelming number of players involved in gold mining in the area, it is easy to see the interest and potential that miners see in these fertile grounds.
Among the locations well-known for gold mining in Philippines include the Province of Benguet, which hosts the Acupan gold project whose operations started way back in 1927. The Province is known to have produced about 5.54 million ounces of gold through the Acupan project, while still counting on the potential reserve of about 113 million tons.
Philippines also has gold deposits on the island of Luzon. The island is known to have produced gold up to 11,236 ounces, and holds about 900,000 ounces of gold in its reserves.
Artisanal Gold Mining
Gold prospecting activities are also widely spread in Camarines Norte and Masbate Provinces. Gold mining activities such as gold panning is reported to be undertaken even by children, which has been well-documented in several videos over the past few years. While the poverty of these places forces people to risk their lives in search of gold, it is also one of the few ways for them to earn money.
The wide spread of gold in Philippines is recorded to occur in sand and clay areas, where fine gold is extracted in a mining town called Paracale in the Southern part of Manila.
The major locations prospectors must have in mind when it comes to gold mining include the districts of Banguio and Paracale in Luzon and Masara, Surigao and Masbate located in Mindanao. When prospectors decide to target these areas for gold prospecting they never go wrong.
Other locations known to have good records with regard to gold nuggets include Hinobaan town, where gold nuggets were discovered in its river, and that led to many prospectors coming to the area with miners arriving from neighboring Indonesia and Malaysia.
Gold is Widespread Throughout the Country
Various placer and lode deposits can be found in about 73 Provinces of the Philippines. As a result, some estimates place the Philippines in the 2nd global position regarding untapped gold reserves. The country is only the 21st largest producer, indicating that there is a great potential for the country. More efforts directed on these rich gold reserves will surely change the country for the better, assuming that growth is done ethically and responsibly.
The major gold producing areas in Philippines are districts of Baguio and Paracale located on the Island of Luzon and Marasa, and the locations in Mindanao such as Surigao and Masbate.
Gold in Philippines exist as placer and lode deposits, which attracts all mines of all different sizes. From large hard rock mines that take years to develop all the way down to individual miners who pan through fine silt in the rivers to recover tiny specks of gold.
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