by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
button in toolbar for more information.
Metal Casting Technologies : March 2005
32 METAL Casting Technologies March 2005 industry. Indophil Resources would be putting in as much as US$650 million in what it considers the largest undeveloped copper field in Southeast Asia and expects commercial operations to commence in 2010. Climax Mining will put in about US$85 million for a gold and copper exploration project in the island of Luzon. It will start commercial operations by end 2006. Lafayette NL, another Australian firm, is undertaking a polymetallic project worth US$42 million. It is expected to begin commercial operations early this year. Australian firm BHP Billiton has an interest in a nickel project, considered as one of the Philippines' largest mining projects. It is also eyeing more investments in nickel in Mindanao. Phelps Dodge of Australia is also eyeing a stake in the US$6 billion copper project in Mindanao, while Crau Minerals Inc. operates a gold and copper project in Masbate Island south of Luzon. Australian mining companies are setting their eyes on mining investments not only in Mindanao, but also in the East Asean Growth Area (EAGA) since the inclusion of the Northern Te rritory (NT) of Australia in the EAGA. All of these are on top of the US$1.3 billion in committed funds from several Chinese mining firms that the Philippine government and the private sector generated from a recent road-show in Beijing, China. Leaders of the Chinese and Philippine mining chambers very recently signed a Memorandum of Understanding to promote cooperation between Philippine and Chinese mining companies. The agreement aims to strengthen exchanges of information and cooperation between the two chambers. Earlier, the Philippine Department of Trade and Industry announced that China's Hebei Jingniu Crystal Ball Group Co., Ltd. will construct a US$312 million glass manufacturing plant at the former US military base in Subic Bay, north of Manila. Hebei's investment is said to be China's biggest single investment in the Philippines. All of these developments are probably the main reasons for the recent strengthening of the Philippine peso vis-à-vis the US dollar from a low of 56:1 in January 2005 to 54:1 last week, in early February. The Central Bank projects this ratio to improve further before the end of this year. EXPECTATIONS The Philippine government expects the local mining industry to generate about US$5 billion in investments, US$6 billion in annual foreign exchange, and create at least 240,000 new jobs over the next five years. These still do not take into consideration the stimulation of the Metalcasting Industry's Steel Foundry Sector that might contribute at least an estimated US$350 million of steel castings in 2006, up from the US$176 million pro-duced in 2002. "Happy days" are here again! Pacific Rim Foundry Services Pacific Rim Safety Products Pacific Rim Foundry Equipment Tel: 61 2 9639 6677 Fax: 61 2 9639 6560 Mobile 0419 433 238 Email: firstname.lastname@example.org PACIFIC RIM FOUNDRY SERVICES Exclusive Representative for Mancuso Chemicals (Canada) in Australia and Southeast Asia Chemical Binder Systems State of the Art Technology at Competitive Prices Furane Resins and Catalysts Phenolic Urethane No -Bake Binders Phenolic Urethane Cold-Box Binders Queensland Representation -- Metal Culture Photo courtesy of John Heine & Son Foundry PACIFIC RIM SAFETY PRODUCTS Marketing safety products from: Paramount Safety, Elliott Australia, Protective Industrial Products, Defender Safety Safety Equipment Leather Gloves, Cotton Gloves, Terry Cord Gloves, Welding Gloves & Aprons, Ear plugs, Safety Glasses, Respiratory Masks, Furnace Clothing, High Visibility Clothing, Disposable Overalls, Work Jackets PACIFIC RIM FOUNDRY EQUIPMENT Buying and Selling Second Hand Foundry Equipment Foundry Equipment Asset Liquidations FEATURE