Environment and Natural Resources Secretary Angelo Reyes announced yesterday that he had signed the deed of assignment of the seven mining tenement holders to Hallmark Mining Corp. and AustralAsia Link, the local partners of BHP Billiton.
The seven tenement holders are Hopewell Mining Corp., P.L. Goodman Mining and Development Corp., Blue Ridge Minerals Corp., St. Patrick Mining and Development Corp., Galactica Mining and Development Corp., Mt. Peak Mining and Development Corp. and Oregon Mining and Development Corp.
Officials of BHP Billiton led by Chris Campbell, chief development officer, and Philip Hopkins, group manager for regional development, paid a courtesy call on Reyes yesterday to reaffirm their investment plans in the country.
The two BHP Billiton officials are also visiting their ongoing exploratory mining operations in Pujada Peninsula in Davao Oriental.
Reyes said the two BHP Billiton officials, who refused to talk to local mediamen, expressed continued interest and optimism about their current Hallmark nickel project in Pujada and the possibility of putting up their own nickel processing plant in the country.
If the nickel processing plant pushes through, Reyes said it would mean an additional investment of anywhere from $800 million to $1.5 billion.
Reyes said construction of the processing plant is projected to start by 2010 and operation of the plant by 2012. BHP Billiton is the worldís largest mining firm with over 100 mining operations in 25 countries.
The Hallmark nickel project is a potentially large nickel deposit located in Mati, San Isidro and Governor Generoso in Davao Oriental covering an aggregate area of 11,799 hectares with an estimated mine life of 40 to 50 years.