BIGGEST PALLADIUM DEPOSITS FOUND IN THE PHILIPPINES

Palladium Found in the Philippines

Philippines could be one of the richest countries in Asia, following the discovery of the world’s biggest Palladium reserve off the coasts of Negros, Panay, Mindoro, and Romblon Islands, south of Luzon.

NASA, together with USGS, (United States Geological Survey), released a 3-year study report detailing the 8,450 square kilometer palladium deposits lying below the seas of Visayan, Sibuyan, and Tablas Strait.

Current biggest producer of Palladium is Russia with 44%, followed by Africa with 40%, and the rest are from Canada and US.

If the Philippine government allows foreign investors to dig and mine the palladium deposits, the country can expect around $9.8B a year in net profit, report said.