PBS-RTVM

 President Gloria Macapagal Arroyo met with executives from one of Brazil's biggest global companies, the Vale (formerly Companhia Vale do Rio Doce), to talk on possible mining explorations in the Philippines. 

Vale Executive Eduardo Bartolomeo and Director Eduardo Jorge Ledsham, who represented Vale President Roger Agnelli, have considered the Philippines part of their expansion since the company works on five continents through its mining operations, mineral surveying and commercial offices.

According to Sec. Favila, drilling operations are set to start in February next year when they conduct a feasibility study on areas in Masbate, particularly in the towns of Uson and Milagros.

Masbate province is now the site of the biggest gold mining operation in the Bicol region while other minerals, like manganese and limestone, can also be found in the island province.

The Rio de Janeiro-based Vale company is the second largest diversified metal mining company in the world and the largest publicly traded company in Latin America by market capitalization (approximately US$ 70 billion). It's the world's largest producer of iron ore and pellets and raw materials important to the global industrial sector.(MDF/RJU) 

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