Mining Funders

By: Bernard Enola

Banks are the main repositories of financial resources; they control the money mechanics around the world may it be in your neighborhood or in the stock market, and are the backbone of virtually, every major project you can think of.  They provide a stiff framework for huge investments to take place in third world countries like the Philippines. In addition, they also dictate who’s getting the end product (minerals) and at what price (2008 Mining Situation and Struggle in the Philippines, 2008). Below is a list of some (not all) of the banks that supported full blown mining operations in the past and are still backing up these industry giants in advancing their corporate interests.

AUSTRALIA NEW ZELAND BANK

Is one of the most active financing institutions of extraction projects in the Philippines.  The bank together with Commercial Bank of Australia financed $ 40 Billion for the Oceana Gold project in Kasibu, Didipio, Nueva Viscaya and is a stockholder of Royalco resources, also operating in Nueva Viscaya.

ANZ is the largest bank in New Zealand and second in Australia.  This company has major projects not only across Asia pacific but also in the Americas and Europe.
Contact: +61 3 9683 9999; http://www.anz.com

DEUTSCHE BANK

Is an international bank and one of the top ten players in the banking industry.  It helped Atlas Consolidated Mining and Development Corporation reopen its Toledo mining project in Palawan by providing $ 40 Million.  It is headquartered in Frankfurt Germany
Contact:
Taunusanlage 12
60325 FRANKFURT AM MAIN (for letters and postcards: 60262)
GERMANY ; http://www.db.com/

 

 

ABN MARO

Is a Dutch bank headquartered in Amsterdam.  They together with Standard Chartered financed the currently operating Rapu-Rapu Polymetallic Mining Project in Rapu-Rapu Island, Albay.  They were also the financers of the infamous Lafayette Mining project in Rapu-Rapu in the early 2000’s.

Gustav Mahlerlaan 10
1082 PP Amsterdam
The Netherlands
Telephone: +31 (0)10 241 172; https://www.abnamro.com

STANDARD CHARTERED

Is a British bank headquartered in London, United Kingdom.  The bank is an active financer of mining projects in the Philippines including Lafayette and Rapu-Rapu Polymetallic Project in Albay, Philippines.

PHILIPPINES:
G/F 6788 Ayala Avenue, Makati City
Tel: + 63 2 878 2865 / 878 2975
Fax: + 63 2 886 7019
UNITED KINGDOM:
Standard Chartered Bank, 1 Basinghall Avenue, London, EC2V 5DD; +44 (0)20 7885 8888; http://www.standardchartered.com

BANCO DE ORO

Is one of the largest bank in the Philippines owned by SM Group of Companies.  The bank is a stockholder of corporate extraction projects in the Philippines.  They helped Toledo mining project in Palawan reopen in 2005.

Contact:
7899 Makati Avenue
Makati City 0726, Philippines
Trunkline: (+632) 840-7000
http://www.bdo.com.ph

KOREA FIRST BANK

Is partly owned by Standard Chartered Bank, they helped Lafayette advance their extraction by contributing millions of dollars to their Rapu-rapu large scale mining project in Albay.

Contact:
100 Gongpyung-dong
Jongno-gu
Seoul,  110-702
South Korea; http://www.scfirstbank.com/

AXA S.A.

Is an bigwig in the insurance industry.  They are operating in 61 countries all over the world and currently have 95 million clients.  Headquartered in Paris, France, they are one of the financial stockholders of the Toledo Mining corporation in Palawan.

Contact:
25 avenue Matignon
75008 Paris
France
Phone: +33 1 4075 5700; http://www.axa.com/en

BAKER STEEL CAPITAL MANAGERS

Is an investment management company based in the United Kingdom.  They are also stockholders of the Toledo Mining project in Palawan.

CONTACT:
86 Jermyn Street
London SW1Y 6JD
United Kingdom
Tel: + 44 (0) 20 7389 0009
enquiries@bakersteelcap.com
http://www.bakersteelcap.com

BARCLAYS PLC

Is a global banking and financing institution based in the United Kingdom, operating in 50 countries all across the globe.  The company is the10^th largest bank group in 2010 (Forbes Magazine, 2010).  They own 4.9 % of Toledo Mining in Palawan.

Contact:
http://www.barclays.co.uk

JAPAN BANK FOR INTERNATIONAL COOPERATION

Is a giant financing institution and export credit agency.  It is fully owned by the Japanese government.  The bank actively supported Rio Tuba Mining in Palawan by aiding $ 180 Million.
Contact:
https://www.jbic.go.jp

 

 

Other financial institutions include the LIM Asia Arbitrage Fund Inc – financed $ 15 million to TVI resources for the construction of its facilities; Investika Ltd. – a shareholder of Toledo Mining project in Palawan, Investika of South Africa – financial supporter of Rapu-Rapu Polymetallic Project.