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Author Topic: Biggest Palladium Deposits Discovered in Philippines  (Read 38520 times)

A7x

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Biggest Palladium Deposits Discovered in Philippines
« on: June 06, 2015, 02:05:16 pm »


Philippines could be one of the richest countries in Asia, following the discovery of the world’s biggest Palladium reserve off the coasts of Negros, Panay, Mindoro, and Romblon Islands, south of Luzon.

NASA, together with USGS, (United States Geological Survey), released a 3-year study report detailing the 8,450 square kilometer palladium deposits lying below the seas of Visayan, Sibuyan, and Tablas Strait.

Current biggest producer of Palladium is Russia with 44%, followed by Africa with 40%, and the rest are from Canada and US.

If the Philippine government allows foreign investors to dig and mine the palladium deposits, the country can expect around $9.8B a year in net profit, report said.

USGS estimated that the whole deposit is 2% bigger than that of Russia with a total volume of around 3.8 million metric tons.

Current price of processed 99.9 carats of palladium is $24,570 per kilogram. The total estimated price for the whole deposit is $93B, or 410 trillion PHP.

Palladium is one of the most precious and rare metals used in jewelries, electronics, and automotive mainly in catalytic converters.

Aside from the discovery of palladium, other mineral related to palladium suck as nickel, platinum, aluminum, silver, and gold are also expected to be extracted from the main mineral.

 [youtube]http://www.youtube.com/watch?v=A7Q4xg8z25s[/youtube]

“The Philippines has no capability to dig and mine its own resources and it needs foreign investors to process the minerals”, the report says.

The deposit can sustain the country’s budget in the next 100 years or more according to the source. The price of palladium is increasing every year and it can double in the next ten years according to the press release.

NASA used satellite sensors and detectors to survey the earth’s surface, and was also credited for the discovery of Brazil’s biggest oil deposit a couple of years ago.

cockfighter

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Re: Biggest Palladium Deposits Discovered in Philippines
« Reply #1 on: June 06, 2015, 04:13:40 pm »
 well, sana ma-check ito ng mines and geoscience bureau ng denr and then pag-aralan nilang mabuti. Mas maganda joint venture ng gobyerno ng pilipinas at mga foreign investors/experts na kayang i-process yan. Pero dapat malaking porsiento ang mapunta sa gobyerno ng pilipinas. kaya yan.  toast::

Zbuffer101

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Re: Biggest Palladium Deposits Discovered in Philippines
« Reply #2 on: June 06, 2015, 04:18:51 pm »
nako... kahit anong mahukay or mamina nila dyan... sa bulsa lang ng mga pulitiko mapupunta mga yan


freeyourmind

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Re: Biggest Palladium Deposits Discovered in Philippines
« Reply #3 on: June 07, 2015, 04:04:03 am »
nako... kahit anong mahukay or mamina nila dyan... sa bulsa lang ng mga pulitiko mapupunta mga yan

korek. the filipino mass is still blind, they like swimming in their own misery.
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my reply to the thread
oh cmmon.."richest" and "Philippines" = WHO? here comes the salivating greedy elitist. this country needs to fix its corruption and slavery of the people first! 2nd what do you do with the money? use the money to advance/research the future energy technology needs......................but then again the filipino bows down to its filipino-chinese masters, CHINA HAS A GRIP. get rid of the opportunists.

Over half of the supply of palladium and its congener platinum goes into catalytic converters, which convert up to 90% of harmful gases from auto exhaust (hydrocarbons, carbon monoxide, and nitrogen dioxide) into less-harmful substances (nitrogen, carbon dioxide and water vapor). Palladium is also used in electronics, dentistry, medicine, hydrogen purification, chemical applications, groundwater treatment and jewelry. Palladium plays a key role in the technology used for fuel cells, which combine hydrogen and oxygen to produce electricity, heat, and water. - it has many uses

naruto789544

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Re: Biggest Palladium Deposits Discovered in Philippines
« Reply #4 on: June 07, 2015, 11:40:59 am »
if this is true then we should make sure that we won't be at a disadvantage when it comes to shares... and whatever we earn from this must be audited and be used for the development of the country not just to a few politician's pocket...