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Apollo Global unit JDVC starts deep sea magnetite mining this Feb

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ABS-CBN News

<p>MANILA - Listed firm Apollo Global Capital Inc. (APL) said on Monday its mining subsidiary JDVC Resources Corp will start deep-sea mining of magnetite iron ore this February.</p><p>As the first large-scale deep-sea mining in the Philippines, JDVC secured all environment, mining and social permits, licenses and certifications, and has &quot;secured satisfactory community acceptance&quot; from nearby local government and communities, APL said.</p><p>The deep-sea mining and exploration will be within JDVC&#x27;s 1,897 hectares of mining tenement, located 14 kilometers offshore from the municipality of Gonzaga in Cagayan province.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/overseas/10/29/20/new-coral-species-discovered-on-seabed-prized-for-mining-potential">New coral species discovered on seabed prized for mining potential</a></li></ul><p>APL said a new deep-sea mining vessel, named MB Siphon I, is now on standby at the mining site pending favorable weather conditions.</p><p>It added that JDVC has partnered with Kinetic Holdings Corp of nickel and restaurant magnate Frank Lao, who invested 3 additional deep-sea mining vessels that will mine a combined 10,000 tons of ores per day.</p><p>&quot;The three vessels are slated for deployment one after the other during the months of March, April, and May of 2021,&quot; APL said.</p><p>JDVC claimed it is the first in the Philippines to operate large-scale offshore mining of magnetite iron ore.</p><div><strong>RELATED VIDEO</strong></div><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/CZqEXYCNLjY?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

<p>Listed firm Apollo Global Capital Inc. (APL) said on Monday its mining subsidiary JDVC Resources Corp will start deep-sea mining of magnetite iron ore this February.</p>

Listed firm Apollo Global Capital Inc. (APL) said on Monday its mining subsidiary JDVC Resources Corp will start deep-sea mining of magnetite iron ore this February.