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Philippine gov't optimistic about mining sector growth |
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08:36, March 03, 2008 |
A Philippine government spokesman Sunday expressed optimism that high prices of mining commodities could continue beyond 2010, which would stimulate the country's mining sector and whole economy.
Presidential spokesman and Press Secretary Press Secretary Ignacio R. Bunye said in an article published at the government website that mining industry will allow ordinary Filipinos to benefit through employment, investment and stocks.
He said investors in the "mining industry are among the most appreciative of the fertile ground for investment that the President Gloria Macapagal Arroyo has worked hard to achieve."
The official Philippines News Agency said on Sunday the Philippine government expected investments in the mining sector to reach 892 million U.S. dollars this year and 1.4 billion U.S. dollars in 2009, he said.
Increasing demand from China is helping Philippine mining sector to grow quickly, said the news agency.
Source:Xinhua
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