Camarines Norte - Iron Ore

Iron Ore

Camarines Norte, Bicol -- Philippines

The region of focus is known as “The Iron Ore Belt” of Camarines Norte, Bicol Region, Philippines.

This area extends over a 25km acruate length from the former Philippine Iron Mines on the coastal fringe, to the inland southeast of the region.

This area was the source of 25% of all Japanese Iron material in the 1960’s – and until 1974 has been left unexploited.

Over 300million tons of iron Ore reserves identified A recent announcement by the Mining and Geoscience Bureau of the Philippines (MGB) indicated that Iron ore reserves of over 300million tons have been identified, and that it is one of their priority areas for the mining industry.

1878 hectares, in the Paracale Municipality, Camarines Norte. This area covers over 4 kilometres of the Iron Ore Belt geological structure in its northern parts, and is also a Premium Gold Property – hosting the Labo Gold Prospect to the South. This area was recently held by the Australian Mining Company “Indophil Resources Pty Ltd”, and was returned to the landholders due to financial problems restricting their ability to exploit the area.

An agreement to mine and process stockpiles of medium grade Iron Ore (approximately 20 to 45% Fe > 1million tonnes) from the old Philippine Iron Mines.

The agreement to process the stockpiles includes the opportunity to construct an Iron Ore Processing Plant in an “Economic Free Zone”, which allows foreign companies a tax-free holiday for a minimum 5-year period. The site is a former Airstrip in good condition, and an excellent platform on which to build a Processing Plant.

An option for up to fifty Supply Agreements with Small Mining Permit holders to facilitate mining of their Iron Ore areas under a royalty payment scheme. These Permits allow mining of up to 20 hectares each.

Royalty Cooperation Agreement securing an Exploration Permit Area up to 5000 hectares. This area has been identified by MGB geologist as having excellent potential for large-scale Iron Ore reserves, based on extensive Geophysics surveys conducted during the 1970’s. The Geophysics work has been supported by observation of Iron Ore outcropping in the area. Iron Ore Grade