Mines Execs Seek Chinese Assistance in Rare Earth Hunt

Mines and Geosciences Bureau Director Leo Jasareno  yesterday said he will again seek the assistance of China Geological Survey in looking for rare earth elements.

“We will try to reach out to CGS to find out what their plans are for this year,” he said.

CGS representatives were expected to arrive in the country last year, however, communication with the agency stopped at the height of the Philippines-China standoff over the Scarborough shoal.

Jasareno emphasized that the standoff is unlikely to derail the Philippines’ economic relations with China.

“We already followed it up, but, we haven’t received any reply from the Chinese experts, but of course this is speculative,” he said in an earlier interview.

The Philippines is pushing exploration projects aimed at developing its rare earth deposits following China’s decision to cap exports to the global market.

The Philippines is already conducting its own exploration surveys in Nueva Vizcaya and Palawan, where rare earth deposits were found to be close to copper-gold mines.

“Notably, Palawan and Nueva Vizcaya are the best places to start. What’s important is to find out if these (rare earth elements) really exist since there are indications of mineralization in these two areas,” he said.

He revealed that the government has earmarked P20 million  for rare earth elements development.

“The P20 million is for the entire reconnaissance phase for the two-year preliminary survey,” he explained.

However, once the three stages of exploration go well, the program may take five years, according to Jasareno.

Jasareno added that the MGB will also seek the assistance of the Department of Budget and Management for the said exploration.

Rare earth metals are a group of elements that are used in a wide range of products we use every day, including hard drives and hybrid cars. Their properties, notably as lightweight magnets, make them key to the ongoing miniaturization of electronics and the growth of green technologies.

China recognized the importance of these elements decades ago and now supplies almost all the rare earth materials in the world.

At present, China produces nearly 97 percent of the world’s rare earth materials.

“China will still process our (rare earth elements) once we are able to get hold of it after this exploration,” he said.

Further limits on Chinese exports of rare-earth elements also threaten to raise costs for companies in an array of industries, including cellphone makers, oil refiners and high-technology batteries.

In December 2011, the Chinese Commerce Ministry announced an initial cut of 27 percent in its rare earth elements exports quota for 2012 as part of the crackdown on illegal mining of the rare earth oxides.

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