Marcventures Holdings, Inc. reported that the company’s Bauxite Mining Project in 6 municipalities of Western Samar contains 73.2 million Wet Metric Tonnes (WMT) of measured and indicated resources of bauxite. In a disclosure to the Philippine Stock Exchange, Marcventures said the deposit could last for about 20 years mine life at 4.0 million WMT yearly.

Supply deficits of bauxite are expected due to increasing use of aluminium for electric cars and other transportation equipment, cladding for electric batteries, aerospace, construction and even defense applications.

The properties which contained the bauxite ores were obtained when Marcventures merged with Asia Pilot Mining Philippines Corporation resulting to Marcventures’ acquisition of 100% of the outstanding shares of Alumina Mining Philippines, Inc. and Bauxite Resources, Inc.

These are the owners of the only two Bauxite mines in the country in the Municipalities of Motiong, Paranas, Gandara, San Jose de Buan, San Jorge and Matuguinao in the Province of Samar.

The ore estimates arose out of an SRK-JORC Compliant Report which was subsequently validated by a Philippine Mineral Reporting Code (PMRC) Report confirming the estimated resources. Indicating even larger potential of the project is the additional Inferred tonnage of 45.7 million WMT.

Marcventures said the company is optimistic of the project given the possibility of high margins and sustained long term demand for aluminium.