{"id":507,"date":"2020-12-07T05:14:00","date_gmt":"2020-12-07T05:14:00","guid":{"rendered":"http:\/\/www.jdvcresources.com\/jdvcresources\/?p=507"},"modified":"2020-12-07T05:19:51","modified_gmt":"2020-12-07T05:19:51","slug":"jdvc-lao-to-engage-in-magnetite-mining","status":"publish","type":"post","link":"http:\/\/www.jdvcresources.com\/jdvcresources\/jdvc-lao-to-engage-in-magnetite-mining\/","title":{"rendered":"JDVC, Lao to engage in magnetite mining"},"content":{"rendered":"<p><i>posted<\/i>\u00a0December 06, 2020 at 07:10 pm\u00a0<i>by<\/i>\u00a0<a title=\"Search Alena Mae S. Flores\" href=\"https:\/\/www.manilastandardtoday.com\/search?q=Alena%20Mae%20S.%20Flores\"><span class=\"black\"><b>Alena Mae S. Flores<\/b><\/span><\/a><\/p>\n<p>JDVC Resources Corp. teamed up with food entrepreneur Frank Lao of the Choi Garden Restaurant group for the country\u2019s first offshore magnetite iron mining project in Cagayan.JDVC is a majority-owned subsidiary of listed company Apollo Global Capital Ltd. while Lao owns Gloria Maris in Greenhills, San Juan.Lao confirmed the joint venture for the magnetite mining project, which involves an estimated 512 million metric tons and mining life of 47 years. The project is expected to start in January.Under a mine consortium agreement with JDVC, Lao acquired two deep-sea mining vessels with a net capacity of 10,000 tons per day.<\/p>\n<div class=\"custom-article-ads\">\n<div id=\"AdAsia\"><\/div>\n<\/div>\n<p>\u201cBuilding an offshore boat will cost around $20 million,\u201d Lao said when asked for comment over the weekend.The ships are expected to arrive in January, joining another vessel already deployed by JDVC.JDVC has also secured the full range of required mining, environmental, and export licenses and permits from the Philippine government.<\/p>\n<p>source:\u00a0<a href=\"https:\/\/www.manilastandardtoday.com\/business\/csr-mining\/341330\/jdvc-lao-to-engage-in-magnetite-mining.html\">https:\/\/www.manilastandardtoday.com\/business\/csr-mining\/341330\/jdvc-lao-to-engage-in-magnetite-mining.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>posted\u00a0December 06, 2020 at 07:10 pm\u00a0by\u00a0Alena Mae S. Flores JDVC Resources Corp. teamed up with food entrepreneur Frank Lao of the Choi Garden Restaurant group for the country\u2019s first offshore magnetite iron mining project in Cagayan.JDVC is a majority-owned subsidiary of listed company Apollo Global Capital Ltd. while Lao owns Gloria Maris in Greenhills, San 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