Chinese envoy proposes Longyan-ComVal sisterhood for mining development

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Discovering more than gold in Compostela Valley
Aerial view of Compostela Valley

A SISTERHOOD agreement between Longyan in China and Compostela Valley (ComVal) province, both rich in mineral resources, has been proposed, according to Davao City-based Chinese Consul General Li Lin. “Longyan is a city in China that is advanced in mining and it has mining company that is considered the world’s biggest focusing on gold and copper mining, and apart from that, the machine industry and other machineries are advanced,” Mr. Li told BusinessWorld. Officials from the Davao consulate and a delegation of Chinese businessmen participated in ComVal’s first De Oro Business and Investment Conference held early March. The province raked in P1.2 billion in investment pledges during the event, the biggest of which is a P500-million property development plan from China State Construction Engineering Group. Mr. Li said they are planning to invite Longyan’s government representatives to visit and meet with ComVal’s provincial officials, or vice-versa. ComVal is rich in gold and silver reserves, with 10 out of the 11 municipalities hosting both large- and small-scale mining sites. A 1998 report by the Mines and Geosciences Bureau regional office placed placed the province’s gold deposits at 36,328,699 metric tons, one of the biggest in the world. — Maya M. Padillo