This Nation Is Reviving Some Of The World’s Biggest Copper Deposits

There’s a lot of investment money today looking to buy big copper deposits. And events late last week suggest such investors may have some major new targets soon. 

In the Philippines. A place with world-leading copper deposits — which has been isolated from the mining world in recent years because of difficult politics. 

That looks set to change though. With government officials revealing they are about to issue a landmark decision on one of the country’s biggest development projects. 

Reuters reported that the country’s Mines and Geosciences Bureau is close to issuing a “notice to proceed” for the King-King copper-gold project, on the country’s southern island of Mindanao. With officials from the Bureau telling an industry conference on Friday that the decision should be issued by “mid-November”.

An approval for the King-King project would be a major development for the Philippines mining industry. Because it would represent the first new mine permitted in the country since 2012. 

Since that time, King-King and a host of other deposits have been locked up in political wrangling between states and the central government. Bringing new mine development to a standstill. 

Last week’s announcement suggests that some of those issues may now be solved. And that could unlock some very attractive assets across the country. 

King-King itself is a massive ore body. Hosting 1.15 billion tonnes of mineralization, grading 0.25% copper and 0.32 g/t gold. The project is advanced-stage, having already seen drill definition and a preliminary feasibility study. 

The progress here could also be good news for other major Philippines projects like the Tampakan copper-gold deposit. Which holds a world-leading 2.9 billion tonnes of mineralization at 0.51% copper and 0.2 g/t gold — but has also gone undeveloped due to permitting issues.  

Interestingly, the co-owner of the Tampakan project — Australia’s Indophil Resources — was taken over in January through a $360 million buyout from Philippines investment firms Alsons Prime. Perhaps showing that local insiders sensed a thaw in mine permitting coming. 

All of which suggests this a place to look for big deposits and exploration projects. Watch for further permitting details here — and more incoming mining investments — to confirm the trend. 

Here’s to buried treasures,

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Dave Forest

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