Mining, Metals & Minerals

The mining industry usually involves multinational companies that have the capacity, budget, and power to take over mines and maintain them on a regular basis. There are basically two things that can be referred to as the mining industry. The first one and the most common is mining for already existing resources and utilizing these resources for their mining operations. The other type is just for exploration for the minerals, and which usually involve those companies who are in it mostly for the venture capital and not really for mining the minerals.

There are also still different classifications of mining companies, depending on company's financial capabilities. In other countries, to be considered as a major company, it has to generate a revenue of more than US$500 million. Intermediate companies are those that have at least $50 million annual revenue, and junior companies are those that still depend on equity financing for their mining explorations. Majority of the junior companies are just focused on explorations, but there are quite a few which may also delve into mining but only minimally, and definitely do not have a revenue reaching $50 million.

In the Philippines, the mining industry focuses on mining gold, silver, copper, nickel ore, coal, and cement. Because of environmental and health conflicts that are usually associated with mining, the Department of Environment and Natural Resources requires the companies an environmental clearance certificate for the mining activities, especially for the mineral explorations. The mining, metals and minerals industry is very crucial not only to the private businesses, but also to the overall economy of the country.