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Old December 28th, 2012, 11:49 AM   #121
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List of Petroleum Service Contract



Other ,For Me Potential Gas and Oil Reserves

- Agusan Marsh
- Benham Rise
- Sierra Madre Long Coast
- Samar (especially the Pacific Coast)
- ARMM (Sulu , Tawi 2 , Basilan)
- Sulu Sea ( Tubataha Reef)
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Old January 6th, 2013, 09:50 PM   #122
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China open to joint oil dev’t in Recto Bank
Quote:
The Philippines and China may forge ahead with the joint exploration of oil and gas reserves in the West Philippine Sea, which the latter calls the South China Sea, even as their leaders continue to squabble over boundaries.
Chinese Ambassador to the Philippines Ma Keqing made this suggestion as she said these resources could remain idle for a very long time if the Philippines and China waited for a final resolution of their territorial dispute before engaging in any commercial development in the area.
In an interview with the Philippine Daily Inquirer editorial team last month, Ma said the Philippines and China should allow oil and gas prospectors—China National Offshore Oil Corp. (CNOOC) and the Forum Energy-led consortium of businessmen Manuel V. Pangilinan and Enrique Razon Jr.—to strike a deal to confirm and maximize the oil and gas potential of Recto Bank off the coast of Palawan province.
Estimates showed that the Recto Bank prospect has potential reserves of 3.4-trillion cubic feet of gas and 440 million barrels of oil that would make this a bigger find than the Malampaya gas field, also off Palawan.
“I think they (Forum Energy) are now discussing a joint cooperation with China. It’s a very positive sign. Why not let two companies discuss the cooperation? I think cooperation will be the best way,” Ma said.
Joint understanding
The Chinese ambassador took note of “previous proposals to shelve sovereignty disputes and pursue joint cooperation,” referring to the Joint Maritime Seismic Understanding (JMSU) that the Arroyo administration initiated in 2005.
Under the JMSU, the three signatories—CNOOC, Petron Corp. of the Philippines and Vietnam Oil and Gas Corp. (PetroVietnam)—agreed to explore for three years the potential for oil in the disputed waters among the three countries.
The arrangement was criticized as unconstitutional for failing to comply with the 40-percent foreign ownership limit on join exploration deals involving natural resources of the Philippines.
Formula valid
“I think it is still a very valid formula pending the solution of the disputes. We can have cooperation with each other to [explore] the resources because we cannot see in the near future… that we can solve all the disputes,” the Chinese ambassador said.
Ma said the disputes over sovereignty and territorial integrity were very sensitive matters.
“We must be very, very careful when talking about the territorial issues or disputes, that’s why. Why not shelve the issues and talk about cooperation?” she said.
Bigger picture
Ma said that in this era of globalization, the interests of China and those of other countries in the region were intertwined.
“China’s interests are interconnected with its neighbors’ and other countries’ at large. I think that is the bigger picture. If we want to seize opportunities [and] not lose time, we should get along with each other,” she said.
Political reality
In a text message, Pangilinan, chairman of Philex Mining Corp., concurred with the views of Ma to explore Recto Bank. But he said he must face the “political reality” involved in any Recto Bank find.
“I must say that the Chinese position, as articulated by the current Chinese Ambassador Ma and by [its] past ambassadors, has, as far as I know, been consistent in respect of the dual sovereignty or commercial aspects of the potential oil and gas resources in the West Philippine Sea. That’s the same stance CNOOC conveyed to us last year,” he said in a text message.
“As businessmen, we can only respond appropriately to one side of that duality—the commercial one. That’s a course we would like to pursue keenly, purely as a commercial matter. After all, if there is nothing out there under the seas, what is there to quibble and quarrel about?” he said.
Pangilinan added: “We appreciate that we cannot abstract from the political realities obtaining and, since we’re only a contractor to—not owner of—those potential resources, we must respect and work within the political guidelines and rules.”
In a text message, Razon, chairman of International Container Terminal Services Inc., said that reaching a “commercial solution” first between the Philippines and China was possible while the territorial dispute remained unresolved.
Negotiate profit sharing
Razon said the parties could negotiate on profit sharing and royalties from any oil and gas find that would be agreeable to both the Philippine and Chinese governments. He suggested that drilling rigs be provided by operators from third-party countries.
Pangilinan and Razon are the joint holders of Service Contract No. 72, the state-granted exploration franchise that covers 80,000 hectares in Recto Bank. The bank falls within the 330-kilometer exclusive economic zone (EEZ) under the Philippine Archipelagic Baselines Law.
Pangilinan’s Philex Mining, though its subsidiaries FEC Resources Inc. and Philex Petroleum, owns a controlling 64.45 percent of Forum Energy Plc, which holds 70 percent of SC 72. The remaining 30 percent of SC 72 is owned by Razon’s Monte Oro Resources and Energy Inc.
Pangilinan met with CNOCC officials last year for a possible tie-up but Razon said Monte Oro was not too keen on getting a Chinese partner for its share in SC 72.
President Aquino is adamant that all royalties go to the Philippines because Recto Bank is clearly inside the Philippine EEZ, being 150 km off Palawan while Hainan, the nearest Chinese territory, is 570 km away.
Forum was scheduled in October last year to check the soil stability in the area in preparation for an appraisal well drilling in the first or second quarter of this year. But the Department of Energy refused to give Forum the go-signal pending the resolution of the territorial dispute with China.
http://globalnation.inquirer.net/610...-in-recto-bank
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Old January 7th, 2013, 12:59 AM   #123
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traydor na Tsina
dapat maglaway sya sa langis ng Pinas hindi papasalihin sa pagmimina
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Old January 8th, 2013, 12:15 AM   #124
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Australian mining company steps up sampling after high-grade gold discovery in Batangas
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MANILA - Perth-based Red Mountain Mining Ltd. said it has ramped up surface sampling after the discovery of higher grade gold from the South West Breccia of the Lobo project in Batangas.

In a statement, Red Mountain said it is sampling the identified epithermal vein-breccia structures at Lobo, as well as exploring for new high-grade gold bearing structures.
Read more
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Old January 10th, 2013, 02:21 PM   #125
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Quote:
Originally Posted by nayki View Post
China open to joint oil dev’t in Recto Bank

http://globalnation.inquirer.net/610...-in-recto-bank
KAPAL ng mga mukha ng mga piratang ito! Wag pag bigyan!
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Old January 18th, 2013, 06:54 AM   #126
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Maritime disputes stall planned oil exploration in S China sea
MANILA - Maritime disputes continue to stall plans to start offshore oil and natural gas drilling activities off the Philippines' Palawan Province in the South China Sea, an investor said Thursday.

"The commercial venture is caught up in the geopolitics of the situation," Manuel Pangilinan, chairman and CEO of Philex Mining Corp., said. "It is caught up as well in the policy issues of several governments, basically China and the United States."

The Philippine government has awarded the right to explore for oil and natural gas deposits on Reed Bank, known as Recto Bank in the Philippines, in the South China Sea off northwestern Palawan, but the awarding has drawn protests from claimants including China, Vietnam and Taiwan.
http://www.abs-cbnnews.com/business/...on-s-china-sea
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Old January 25th, 2013, 12:24 PM   #127
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Kamusta and ano na nangyai sa pinagyayabang dati ni pnoy na "Iraq" size na langis?
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Old January 25th, 2013, 12:26 PM   #128
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Quote:
Originally Posted by coldfire083 View Post
Kamusta and ano na nangyai sa pinagyayabang dati ni pnoy na "Iraq" size na langis?
Biro lang yun! Kelan ba naging seryoso yan?
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Old January 25th, 2013, 12:27 PM   #129
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pinag aaralan pa
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Old February 11th, 2013, 05:31 AM   #130
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US agency sees huge oil, gas potential in Spratlys
By Iris C. Gonzales (The Philippine Star) | Updated February 11, 2013 - 12:00am


MANILA, Philippines - The disputed Reed Bank in the Spratly Islands is estimated to contain up to 5.4 billion barrels of oil and 55.1 trillion cubic feet (tcf) of natural gas, according to a newly published report by the United States Energy Information Administration (EIA).

Quoting data from the US Geological Survey, the EIA estimates the disputed Spratly Islands territory may contain significant deposits of undiscovered hydrocarbons.

“USGS assessments estimate anywhere between 0.8 and 5.4 (mean 2.5) billion barrels of oil and between 7.6 and 55.1 (mean 25.5) tcf of natural gas in undiscovered resources,” the EIA said in the Feb. 7 report.

“Evidence suggests that most of these resources are likely located in the contested Reed Bank at the northeast end of the Spratlys, which is claimed by China, Taiwan, and Vietnam,” the EIA also said.

read more

Last edited by rockyg; February 11th, 2013 at 06:41 AM.
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Old February 11th, 2013, 05:41 AM   #131
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FACTBOX: Oil, gas potential In disputed South China Sea
February 8, 2013 11:47am

The South China Sea holds around 11 billion barrels of oil and 190 trillion cubic feet (tcf) of natural gas in proven and probable reserves, surpassing the untapped resources in Europe, the U.S. Energy Information Administration said.

China claims ownership of the entire South China Sea, including the Spratlys which is claimed in whole by Taiwan and Vietnam and in part by Malaysia, Brunei and the Philippines.

The Philippines refers to a portion of the South China Sea as the West Philippine Sea.

The EIA estimated the Spratlys could contain between 800 million and 5.4 billion barrels of oil and 7.6 to 55.1 tcf of natural gas in undiscovered resources.

The following shows the estimated energy output for 2011 in the South China Sea by country, and also indicates the companies involved. (Oil is estimated in 1,000 barrels per day, while natural gas is in billion cubic feet.)

Country Oil Natgas Oil firms

Brunei 120 400 Petroleum Brunei, BHP Billiton,
ConocoPhillips, Hess Corp,
Kulczyk Oil Ventures, Mitsubishi Corp,
Murphy Oil, Petronas, Polyard
Petroleum, QAF Brunei, Royal Dutch
Shell, Total

China 250 600 CNOOC, Sinopec, CNPC, BG
Group, BP, Chevron,
ConocoPhillips, Eni, ExxonMobil,
Husky, Newfield,
Shell, Total

Indonesia 60 200 Pertamina, PetroChina, CNPC,
ConocoPhillips, Eni, ExxonMobil, Husky, KUFPEC,
Petronas, Santos, Statoil,
Total

Malaysia 500 1,800 Petronas, Lundin, BHP Billiton, ConocoPhillips,
ExxonMobil, Hess, KUFPEC, MDC O&G, Murphy Oil,
Nippon, Petrofac, Roc Oil,
Shell, Talisman Energy

Philippines 25 100 PNOC, ExxonMobil, Shell

Thailand - - BG Group, Chevron, Shell

Vietnam 300 300 KNOC, ConocoPhillips, Geopetrol, Premier Oil,
PTTEP, Santos, SK Corp,
Total, Zarubezhneft
source

Last edited by rockyg; February 11th, 2013 at 06:40 AM.
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Old February 16th, 2013, 06:25 AM   #132
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Frontier Oil acquires contract covering Calauit field

MANILA - Frontier Oil Corp has acquired Service Contract 50 in northwestern Palawan, including the proven Calauit oil field, ahead of the company's planned initial public offering in the second quarter.

“The acquisition of the Calauit field is another component of the company’s strategy to become a significant oil and gas player, based on a range of Philippine projects with proven potential and substantial capacity," said Kristoffer Fellowes, Frontier Oil chief executive officer.

The Calauit fields –- which comprise the Calauit 1B and Calauit South-1A discoveries –- have been the subject of comprehensive technical analysis over an extended period, mitigating risk factors to a substantial degree and proving the existence of a compelling commercial quantity of recoverable oil.

While previous assessments had indicated a total potential of between 3.1-7 million barrels of oil in place, further studies have suggested an upside potential in excess of 14 million barrels.
http://www.interaksyon.com/business/...-calauit-field
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Old February 19th, 2013, 07:30 PM   #133
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Sagittarius Mines finally gets ECC from DENR
By Czeriza Valencia (The Philippine Star) | Updated February 20, 2013 - 12:00am

Quote:
MANILA, Philippines - The Department of Environment and Natural Resources (DENR) has finally issued an Environmental Compliance Certificate for the $5.9-billion Tampakan copper-gold project of Sagittarius Mine Inc. in Mindanao.

The Office of the President (OP) this month remanded to the DENR the petition filed by SMI for the provision of an ECC, directing the department to rule on the application “without any consideration of requirements other than those imposed under EIS (Environmental Impact Study) System itself.”

The DENR has repeatedly rejected the company’s application for an ECC because of an existing ban in South Cotabato on the use of the open-pit mining method.

An ECC guarantees that a project will not harm the environment.

“There is already an ECC issued but the granting is subject to certain conditions,” said Environment Secretary Ramon Paje in an interview yesterday.

He said failure to comply with the conditions may result to cancellation of the ECC.

...read more
I forgot where I read it but I guess after this I believe SMI has 3 or 4 permits left to attain before they can proceed with the actual project. Sure there's still a couple of hurdles left but this is definitely one big step in the right direction.
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Old February 25th, 2013, 04:50 AM   #134
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Otto Energy bags contract to explore Mindoro basin

Philippine Daily Inquirer
4:54 am | Monday, February 25th, 2013
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Quote:
MANILA, Philippines—Australian firm Otto Energy Ltd. has bagged the contract to explore and develop prospective oil and gas blocks off the Mindoro Cuyo basin, where it plans to invest an initial $500,000 in the first 18-month period.
In a regulatory filing, Otto Energy reported that it was named by the Philippine Department of Energy as the preferred bidder for Area 7 under the fourth Philippine Energy Contracting Round (PECR), which was launched back in 2011.
The formal turnover of the block for exploration and development will take place once Otto Energy signs the final petroleum service contract and submits supporting documentation to the DOE. Upon execution, Otto will commit to reprocessing the existing seismic study with a minimum financial commitment of $500,000 over a period of 18 months.
“I look forward to successfully executing the final Service Contract documents for Area 7. The addition of this new exploration acreage is consistent with our strategy to build an integrated exploration, development and production company focused on Southeast Asia and East Africa,” said Otto chief executive officer Gregor McNab.
“Area 7 has the potential to restock our existing, high impact, exploration prospect inventory that is already feeding our active drilling program through the rest of 2013.”
The bid of Otto Energy for Area 7 was coursed through the company’s local unit, NorAsian Energy Philippines Inc.
Area 7 is an offshore block located at the southern part of the Mindoro Basin–Cuyo Platform, a continental rift basin. It covers around 8,440 square kilometers with depths ranging from 100 meters to 1,300 meters.
According to Otto Energy, there is an existing 2D seismic data set of over 3,000 kilometers covering the block. The petroleum play types identified in Area 7 are reef build-ups, fault blocks and anticlines.
Oil has been discovered with an Extended Production Test conducted in 1994 at the Maniguin wells near the block. The occurrence of oil seepage in the Mindoro region also confirms the presence of an active petroleum system in the area, it added.
The awarding of the service contracts under the PECR 4 is a step toward boosting exploration activities in an underexplored country like the Philippines. Data from the DOE showed that the Philippines has a total potential resource of 8.6 billion barrels of oil equivalent; 3.27 billion barrels of oil; 28.5 trillion cubic feet of gas; and 164 million barrels of condensate.
The PECR 4 was envisioned to address the security of the country’s energy supply through the exploration of local indigenous resources. Harnessing local resources is expected to help the country meet its daily demand and reduce the importation of petroleum and petroleum products.
More importantly, developing the country’s own resources is deemed to be a long-term plan of action that will reduce the country’s dependence on imported petroleum and mitigate the effects of oil price volatility.—Amy R. Remo
http://business.inquirer.net/109281/...-mindoro-basin
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Old February 25th, 2013, 06:20 AM   #135
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Bidding for $2.1B BatMan 1 project delayed anew

Quote:
he bidding for the first phase of the $2.1-billion Batangas-Manila (BatMan 1) natural gas pipeline project may be delayed anew as the state-run Philippine National Oil Co. (PNOC) has yet to conduct a study to determine the most feasible mode for the project.
According to Zenaida Y. Monsada, director of the Oil Industry Management Bureau at the Department of Energy, PNOC is now preparing for a feasibility study that will look into the merits of various options being considered by the government.
One option is to bid out the BatMan 1 project, a critical infrastructure that can boost the Philippines’natural gas industry, under a public-private partnership (PPP).
Another mode being considered, according to Monsada, is through an official development assistance (ODA), which is defined as a “loan or a grant administered with the objective of promoting sustainable social and economic development and welfare of the Philippines.”
Under the law, ODA resources must be contracted with governments of foreign countries with whom the Philippines has diplomatic, trade relations or bilateral agreements, or which are members of the United Nations, their agencies and international or multilateral lending institutions.
“There are prospective volunteers who can conduct the feasibility study and we’re studying [their proposals],” Monsada told the Inquirer.
“Their offers differ in terms of the timetables as to how long the study will be conducted and the scope of the study. There are groups that have offered to conduct the feasibility study for free but we have to look into their proposals first.”
Once the study is completed, PNOC may already be able to proceed with the bidding for the first phase of the BatMan 1 project, which will involve the construction of the 100-kilometer pipeline.
PNOC has yet to announce whether it will still create a separate subsidiary to be called PNOC Pipeline Corp. (PNOC PC) to handle the operations of the natural gas pipeline.
Based on previous plans, the PNOC PC is expected to bid out the engineering, procurement and construction contract, as well as the technical and maintenance agreement this year. It will take about three years to finish the pipeline.
The second and third phases of the Batman 1 project will involve the construction of the receiving terminal and power plant, respectively.
The Philippine government is bent on pursuing the use of alternative fuels, such as natural gas, given the current global oil price volatility, to which the Philippines is highly vulnerable.
The country sources more than 90 percent of its fuel requirements abroad.
Natural gas has been deemed to be among the more feasible alternatives that will allow the Philippines to diversify its energy and transport fuel sources.
http://business.inquirer.net/109219/...t-delayed-anew
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Old February 26th, 2013, 10:28 AM   #136
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Mitra Energy completes seismic surveys for potential petroleum in Sulu Sea
By: Euan Paulo C. Anonuevo, InterAksyon.com
February 26, 2013 3:15 PM

Quote:
MANILA - Mitra Energy Ltd of Malaysia has completed the acquisition of seismic surveys in the Sulu Sea.

In a statement, Mitra Energy said it completed 540 square kilometers of 3D seismic surveys, which started in late January, over Service Contract (SC) 56.

The data was acquired by geophysical services company WesternGeco using the survey vessel M/V Western Patriot.

SC 56 covers an oil and gas exploration and development area of 8,200 square kilometers, 900 kilometers southwest of Manila and 200 kilometers northwest of Bongao, the capital of Tawi-Tawi province.

Mitra Energy owns 25 percent of SC 56 in partnership with Total E&P Philippine BV, which controls the remaining 75 percent.

The two earlier agreed to transfer ownership of the contract area to Total for the succeeding drilling activities after Mitra Energy completes the seismic surveys.

The Department of Energy initially estimated the contract area to contain about 750 million barrels of oil equivalent, which could supply the domestic market’s total requirements for seven years.

Mitra Energy's original partner in the exploration block, ExxonMobil Exploration and Production Philippines BV, dropped the project after deeming potential reserves to be of “non-commercial quantities.”
http://www.interaksyon.com/business/...um-in-sulu-sea
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Old March 5th, 2013, 09:41 AM   #137
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Pampanga quarry collection hits P701 million

CITY OF SAN FERNANDO, Pampanga - The provincial government has already collected a total of P700.9 million in quarry revenue, moving closer to its target collection of P770 million by June this year.

“We are very optimistic we will achieve the target or even go beyond it, based on increased demand. With four months to go, hopefully, we will achieve another milestone when the terms of Governor [Lilia] Pineda and Vice Governor [Joseller] Guiao end June this year,” said Provincial Environment and Natural Resources head, Engineer Art Punsalan.

Punsalan said the support of Pineda’s administration has brought the quarry industry to its all-time peak due to parallel efficiency in operations.

Guiao said the provincial government is working for the computerization of the quarry operations and to institutionalize it so that the real trend and figures will not be altered by whoever rules in the capitol.

By institutionalizing the quarry system, Guiao said the provincial government would maximize its potential with more funds for the delivery of basic services to residents.

The Sangguniang Panlalawigan is conducting a committee hearing on the computerization of the quarry system.

http://www.interaksyon.com/article/5...s-p701-million
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Old March 8th, 2013, 09:09 AM   #138
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Originally Posted by saintelm View Post
Sagittarius Mines finally gets ECC from DENR
By Czeriza Valencia (The Philippine Star) | Updated February 20, 2013 - 12:00am



I forgot where I read it but I guess after this I believe SMI has 3 or 4 permits left to attain before they can proceed with the actual project. Sure there's still a couple of hurdles left but this is definitely one big step in the right direction.
The government has to ensure that the Philippines and the host communities will benefit from the operation of this miningb company.
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Old March 11th, 2013, 04:33 PM   #139
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Sumitomo Metal building rare earth recovery plant in Palawan
March 11, 2013 5:35pm

If things go according to plans, the Philippines may start producing rare earth by 2014.

Sumitomo Metal Mining Co. Ltd (SMM) is building a scandium recovery plant in Palawan later this year, and expects the pilot facility to operate in 2014.

“For some time, SMM has been working to develop a scandium recovery method at its Niihama Research Laboratories in Ehime Prefecture,” the company noted on its website.

“This effort has now led to the attainment of technology enabling efficient recovery of scandium from the nickel-cobalt mixed sulfide production process,” SMM said.

A silvery-white metal classified as a rare earth element, scandium is used to enhance the strength and heat and corrosion resistance of aluminum, as well as an electrolyte in solid oxide fuel cells and as an electrode in metal halide lamps and alkaline batteries.

Sumitomo Metal noted that small quantities of scandium are contained in the ore used by its majority-owned subsidiary Coral Bay Nickel Corporation (CBNC) in producing nickel-cobalt mixed sulfide.

Based in Palawan in southwestern Philippines, Coral Bay Nickel produces nickel-cobalt sulfide facility using high-pressure acid leach process or HPAL.

Coral Bay Nickel buys its ore from Rio Tuba Nickel Mining Corp.—majority-owned by listed miner Nickel Asia Corp.

In a disclosure to the Philippine Stock Exchange on Monday, Nickel Asia noted that Surigao del Norte-based Taganito HPAL Nickel Corp. intends to adopt the scandium recovery technology to be piloted by Sumitomo Metal if it proves successful.

Taganito HPAL is majority-owned by SMM and 22.5 percent by Nickel Asia.

“If successful, it will represent the country’s first production of a rare earth element, an important step in the development of the Philippines’ mineral resources,” Nickel Asia claimed.

Trial production at 10 kilograms (kg) per month will start sometime in 2014, according to Sumitomo Metal.

Test results of the pilot plant will guide the company in deciding whether to build a scandium oxide production facility in commercial quantities and the launch a related business in 2015.

According to Sumitomo Metals, global production of scandium is estimated at 10 tons per year with China, Russia, Ukraine, and the United States as major producers of the rare earth element.


http://www.gmanetwork.com/news/story...ant-in-palawan
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Old March 12th, 2013, 04:36 PM   #140
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Daming good news dito lalo yung mga oil prospects and mineral processing plant!
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