Mindanao has rich oil reserves

In Philippines, Mindanao is the poorest region but is believed to contain oil, natural gas and mineral reserves estimated at up to $1 trillion.

Mindanao has rich oil reserves

Mindanao is the poorest region in the Philippines but is believed to contain oil, natural gas and mineral reserves estimated at up to $1 trillion. There has been little development there because of the fighting.

Some mining companies and palm oil manufacturers have begun to show interest in Mindanao, especially since the government and the MILF signed a fresh ceasefire and resumed peace negotiations in 2003. Foreign aid has also begun flowing to the area.

But if hostilities resume after the withdrawal of the peacekeepers, as many fear, both current and prospective investors could be scared away, analysts have said.

Reuters
Last Mod: 10 Mayıs 2008, 15:53
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