You are here
The Philippines, another rich country insisting on being poor
Trillion-Dollar Goldmine For Philippine Economy Emerging From Murky Pit
By Ralph Jennings
Forbes.com, Jersey City, New Jersey
Sunday, April 5, 2015
The Philippines holds the world's second largest gold reserves, and applications from foreign mining firms are piling up to tap that plus a list of other metals that basically just sit under the ground now.
Mining made up just 0.72 of the impoverished Southeast Asian country's economy in 2012 as gold production fell back that year. Access to the $1.4 trillion Philippine mining sector, rich also in copper and nickel, has been mired since the 1980s in klutzy laws, environmental battles, and land rights issues. It may be on its way out of the pit this year.
Officials in Manila see mining as an untapped treasure that could help sustain recent annual economic growth of about 6 percent and bring in foreign investment -- a national priority since 2010. It's one of the country's next boom sectors, forecasts Jonathan Ravelas, chief market strategist with Banco de Oro UniBank in metro Manila. ...
... For the remainder of the report:
Silver mining stock report comes with 1-ounce silver round
Future Money Trends is offering a special 18-page silver mining stock report about how to profit with the monetary and industrial metal, and it comes with a free 1-ounce silver round. Proceeds from the report's sales are shared with the Gold Anti-Trust Action Committee to support its efforts to expose manipulation in the monetary metals markets. To learn about this report, please visit:
Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:
Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:
Or by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit: