Gold Mining Village under threat of Landslide

Mount Diwalwal has been a home for so many residents now where rags-to-riches stories were made and gold struck tales were as common as the people's lives. In fact, the whole community itself sit on top of the gold mine, and the whole village ground as the mine itself.Several years ago, Mt. Diwalwal was a no man's land and was known as the "Wild West" until recently when the villagers started organizing themselves, Peace settles in the community.Students there were even given with medals literally made out of Gold which were donations by residents to encourage and uplift the literacy rate of the community, since most residence are illiterate...

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Weekend Economic Report

Local Mining industry made some headlines these weekend as foreign investors pulled-out some projects in an attempt to mitigate their losses from the onslaught of the worldwide meltdown in industrial metals. After a mining company decided to shut their mining operation in Northern Luzon, another foreign company prepares for take-over from a local mining giant Philex Mining corporation.Publicly listed Philex Mining Corp. said Friday it now has full control over the Bongoyan copper-gold project in Surigao after it bought out partner Anglo American Plc. in the venture.In a statement to the local bourse, Philex said it has acquired the 50 percent...

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