The Islands are rich in mineral products, and it should not be long
before the working of minerals should constitute one of its basic
industries. The most important minerals are gold, silver, lead,
zinc, copper, iron, coal, petroleum, sulphur, asphalt, asbestos,
manganese, guano, mineral waters, gas, cement, and many others of
minor importance.
Gold.--There are a number of successful gold mines in the islands
today. One of them is the Colorado mine in Masbate which produces
P2,000 worth of gold a day at a cost of P1,000. Other successful mines
are those of Paracale, Ambos Camarines; Baguio, Mountain Province;
and Aroroy, Masbate. There are large areas of placer ground in Nueva
Ecija, Mindanao, and Misamis.
According to an estimate of the Bureau of Science, there are in all
800 to 1,000 square kilometers of placer grounds in the Philippines
still undeveloped. The production of gold in 1916 was 2,265,789 fine
grams, worth P3,011,755; in 1918 the production was 1,937,941 fine
grams valued P2,575,970.
Silver.--Silver is found alloyed with the gold in all of the gold
deposits in the ratio of 1 to 4. No attempt has as yet been made
to develop the silver mines of the islands. There is no doubt,
however, that the silver deposits can be advantageously developed
on a commercial basis because the supply of silver in the world is
declining and because the neighboring countries, such as China and
Japan, are on the silver standard basis.
Iron.--Valuable deposits of high grade iron ores are found in the
eastern and southeastern cordilleras of Luzon. Extensive deposits are
available in Bulacan, Rizal, Camarines, and Surigao. The Surigao field
has a total area of 100 square kilometers with an average depth of
3 meters. The total estimated iron-ore deposit is about 500,000,000
tons. This region is accessible from the coast. The Bulacan deposit
contains approximately 1,200,000 tons of ore. No survey has been
made of other fields, but it is estimated that at least another
500,000,000 tons of ore are dormant in them. If properly developed,
these deposits would yield sufficient ore to meet the local needs for
iron and steel products, perhaps with a surplus for exportation. As
a result of the economic development of the country, the importation
of iron and steel and their manufactures has shown an annual tendency
to increase, as may be seen from the following figures:
IMPORTATION OF IRON AND STEEL
AND MANUFACTURES THEREOF