Camarines Norte - History - Previous Mining & Exploration

Previous Mining & Exploration

The Iron Ore deposit was discovered in the Camarines Norte region as early as 1853.

In 1908, the Kihara Mining Company shipped iron ore to Japan until World War I. The Philippine Iron Mines Inc. (PIM) was incorporated in 1937, and full-scale mining followed in 1934 until the outbreak of World War II.

Direct export production to Japan resumed from 1948 until 1963 when the high-grade ore (+60% Fe) was depleted on the coastal fringe area. A furnace beneficiation plant was installed, and from 1964, 4,800 tonnes per day of non-direct shipping grade (2nd class ore) was treated and exported.

Iron Ore was extracted from two main Pit areas, and later went underground. A destructive Typhoon in 1974 flooded the Pits and mining ceased – leaving a reported 13million tonnes of Iron Ore to be mined.

==Extensive Exploration identifies over 300million tonnes of Iron Ore== Extensive exploration in the region has been conducted by PIM and the MGB, including for precious and base metals studies. The region

lays host to a number of low grade mineral bodies including Gold, Copper, Molybdenum, and Uranium metals, in addition to the Iron Ore. Extensive geophysics were conducted in 1954 by Hunting Geophysics Ltd. of London, resulting in the delineation of some of the PIM reserves then mined.

In 1957 through to 1963, Mitsubishi Company of Japan reportedly conducted exploration in the region --including detailed ground magnetic surveys and diamond drilling.

A senior MGB geologist has confirmed that multiple high-grade Iron Ore outcrops are documented throughout the region. A recent announcement by the Mines Bureau indicated that over 300 milliom tonnes of Iron Ore have been identified in the region. Geophysics data from the 1954 work conducted by the Hunting group has not been followed-up by any Company since that time and is being secured under an Exploration Permit by our regional associates at present.