SMALL-scale mining operations in this part of the country are expected to benefit immensely with the opening today of a P200-million copper ore processing plant in Naawan, Misamis Oriental.
Singtech Mining & Trading Co. Ltd., Inc., a domestic corporation, will also engage in mineral trading and provide services to small-scale miners for the much-needed grade-testing of their minerals.
The plant is designed to process an estimated 200 tons of ore per day and will buy its raw materials from small-scale mining operators in the region.
Singtech also plans to create a buffer stock of 15,000 metric tons of copper ore to ensure continuous milling operations and in the process generate a regular income for the small-scale mining industry.
The inauguration of the processing plant today is just the first of several big projects that Singtech plans to undertake in Northern Mindanao.
Singtech is a corporation of Chinese and Filipino entrepreneurs. The Chinese group is composed of Zheng Runsheng, Su Xiao and Kou Ming Shan. The Filipino counterparts include Ernesto C. Sebua, Amalia S. Kho and Bernard Sebua.