Saturday, August 2, 2008
Two firms have agreed to a new joint venture that will see them explore the potential of a number of mineral claims on Masbate Island.
According to the Philippine Daily Inquirer, the island, which is 350 km south of Manila, is to be the setting for Geograce Resources Philippines and Vale Exploration Philippines' latest projects.
So far, seven mineral claims totalling 84,046 hectares of land have been identified.
Michael Defensor, GEO management services chair, said: "We are extremely pleased to become the first Philippine partner of Vale, which is not only one of the world’s biggest mining companies, but its success is strongly rooted in helping develop its home country, Brazil, into a natural resources superpower."
The newspaper notes that Vale is to provide $6 million over the course of the next three years to finance the exploratory projects.
Masbate is a V-shaped island, 30 miles south-west of the tip of Luzon.
The island's coastline meets the Sibuyan, Visayan and Samar seas.
PHILIPPINES - Concerns that fish and seafood supplies could have been contaminated by bodies recovered from vessels sunk in typhoon Frank around the Philippines have been allayed by health officials.
The Department of Health (DoH) said that fish and other seafood, including those from waters near the capsized MV Princess of the Stars, are safe to eat.
Fish sales have reportedly dropped in the Masbate province as residents fear marine products had been contaminated according to reports in the Inquirer.
The Inquirer said that Masbate Governor Elisa Kho also appealed to the public for calm as she allayed concerns that fish caught in Masbate’s water poses health risks to consumers.
"As long as they cook the fish very well, it is safe for consumption," said Kho, who is also a medical doctor.
She said the fish scare has affected the income of fishermen in Masbate.
Dr. Baby Banatin, chief of the DoH’s Emergency Management Service, dismissed fears that fish and other seafood found in the seas around of the capsized ferry, where hundred dead bodies are believed to be trapped, are contaminated.