Recently released market study: Philippines Mining Report 2013

Philippines: A Rising Star In Asia Mining

BMI View: With an abundance of mineral resources on offer, we are optimistic towards the future growth prospects of Philippines' mining sector. Capital inflows will be forthcoming over the coming years, especially given the recent lifting of the ban on new mining applications. We expect the country's mining industry value to reach US$7.5bn by 2017, growing at an annual average rate of 13.1% from 2012 levels.

While a string of mining projects has been put on the backburner over the past year, we believe the Philippines is set to emerge as one of the brightest spots for mining investment in Asia. According to the Mines and Geosciences Bureau (MGB), the Philippine government is now reopening its door to new mining applications. Apart from lifting the two-year ban on new mining permits, the mining application fee was increased from PHP60 per hectare to PHP300-500 per hectare. Additionally, a minimum of PHP200,000-500,000 would now be charged against mining applicants depending on the type of application. In our view, the lifting of the moratorium on new mining applications, which came earlier than we anticipated, would pave the way for increased capital inflows into the mining space. President Benigno Aquino had earlier prohibited the issuance of mining applications until a resolution on the revenue-sharing scheme between the government and mining firms is reached.

Full Report Details at
- http://www.fastmr.com/prod/617094_philippines_mining_report_2013.aspx?afid=301

With more than 1,200 areas open to mining exploration once again, we believe the amount of mining investment for 2013 could potentially exceed the government's revised target of US$718mn. The latest move by the Aquino administration is a step in the right direction and would ignite a wave of foreign interests into the country over the coming years. Philippines is home to an immense wealth of natural resources, boasting some of the largest gold, silver, iron ore, copper and zinc deposits in the world. While much of the traditional mining regions are struggling with the problem of resource depletion and rising cash costs, huge swathes of the Philippines remain largely unprobed. Despite the increase in mining application fee, we do not believe this will significantly deterred foreign investors from entering the country. Indeed, many governments around the world have increased their take from the mining sector with countries in Asia such as Australia and Indonesia being the most notable. Overall, we expect the country's mining industry value to reach US$7.5bn by 2017, growing at an annual average rate of 13.1% from 2012 levels.

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

You may also be interested in these related reports:

- Global Mining Survey 2013-2014 - Market Trends, Marketing Spend and Sales Strategies in the Global Mining Industry
- Global Mining Survey 2013-2014 - Market Trends, Buyer Spend and Procurement Strategies in the Global Mining Industry
- Sustainability in the Global Mining Industry 2012-2013 - Market Trends and Opportunities, Profitability and Budget Forecast, Mining Industry Procurement and Marketing Initiatives
- Global Mining Survey 2012-2013: Market Trends, Marketing Spend and Sales Strategies in the Global Mining Industry
- Global Mining Survey 2012-2013: Market Trends, Buyer Spend and Procurement Strategies in the Global Mining Industry