DANAO City is set to become northern Cebu’s industrial center with the entry of a new mining plant in the area.
Danao City Mayor Ramonito Durano III revealed that small-scale mining company Platinum Group Metals Corp. (PGMC) is currently rehabilitating an old cement plant in Barangay Dunggoan.
The mayor said in an interview that PGMC will occupy at least 30 hectares of leased property in Danao City with a 10-year renewable contract with the local government.
Durano said the mining company is estimated to spend about P200 million for rehabilitation of the former Lafarge/Lloyds Richfield Industrial Corp. cement plant in Dunggoan.
The plant had a production capacity of 480,000 metric tons. The facility faced financial problems in 2001, leading to its shutdown.
Exploration, exploitation
“They will have their own private pier area here in Danao,” he said.
According to the PGMC website, the company is involved in the exploration, development, exploitation and utilization of minerals.
After it was incorporated and registered as Caschrome Inc. with the Securities and Exchange Commission in 1981, PGMC’s first venture was in chromite mining in Isabela. The website said PGMC’s small-scale mining operation was significant in the formation and operation of Inchrome, a major ferrochrome smelter in Mindanao, being the initial supplier of chromite ore.
PGMC also acquired gold properties in Camarines Norte and iron-nickel laterite properties in Palawan and in Isabela.
Durano said PGMC is targeting to soft open this May and is estimated to hire more than 1,000 employees once operations have gone full blast.
Strong potential
Durano expressed optimism in Danao’s “strong potential” to attract industrial companies, especially with the completion of the North Coastal Road Project, linking Mandaue City to the rest of northern Cebu.
“Danao City in the coming years will have more to offer as an industrial center in the north. There are even inquiries for commercial developments. Once the North Coastal is open, the city will be a major player in the economic landscape of Cebu,” he said.
Japanese electronics manufacturer and exporter, Cebu Mitsumi Inc. is also located in Danao City. Mitsumi is considered the largest employer in Cebu Province. (MMM)
