A Filipino-Norwegian conglomerate who formed exploration and mining firm, Siargao Island Mining Development Corporation have already expressed to explore and mine huge Deuterium gas deposit in Siargao Island that will based in the coastal town of Pilar.
"The conglomerate applied 1,500 kilometers wide, long and deep area concession from Pilar, Surigao del Norte in Siargao Island thus exploration will even reach mainland Surigao", Matugas who is Chairman on the House Committee on Environment told newsmen present at the press conference.
In a press conference held at the Provincial Capitol here Friday First District Surigao del Norte Rep. Francisco Matugas and Surigao del Norte Governor Sol Matugas announced that the conglomerate already applied for land survey, exploration permit with the Bureau of Mines and Geo-Sciences
“At the land survey, preparations and exploration alone, we expect hundreds of Surigaonons to be employed by the conglomerate”, the Surigao del Norte solon said.
Matugas said that last week conglomerate officials meet with him and the Governor to discuss about their application with the Philippine Government’s Bureau of Mines.
Deuterium gas also known as heavy hydrogen is a heavier and stable isotope of ordinary hydrogen. And is now widely known worldwide as “Fuel of the Future”.
It is a colorless, odorless, nontoxic, diatomic, flammable gas. Deuterium gas is used in nuclear power, fusion power, deuterated optical fibers, deuterated lubricants, lasers, light bulbs, R & D laboratories and annealing semiconductor rim.
The Philippines was identified to hold the greatest amount of deuterium deposit n the World somewhere in the area known as Mindanao Trench, the part of the Pacific Ocean just off the shores of Siargao Island.
Deuterium also known as the “White Gold in the Philippines” is most prevalent in an area more widely known in the whole world as The Philippine Deep which is located here in Surigao.
Dr. Anthony B. Halog, the Filipino scientist working at the Sustainable Technology Office of the Institute for Chemical Process and Environmental Technology, and the National Research Council of Canada described the Philippine deuterium wealth in this manner:
“A big deposit of 868 miles long, 52 miles at widest point, and 3 miles at deepest point, replenished by nature 24 hours a day after deuterium travels more than 12,000 kilometers from Central America to the Philippines through the span of the Pacific Ocean when Planet Earth turns on its axis from West to East in unending perpetual motion’
Dr Halog said its economic potential in this breathe is about 12 million barrels per day capacity priced at US$7.00 per barrel, this is US$84 million per day or US$30.66 billion per year, enough to wipe out all existing foreign debts of the Philippine Government in one year, revenue-wise in foreign exchange.
Dr. Halog said that once Deuterium exploration and extraction succeed, public works, private construction, economic and financial booms are expected to happen in the Philippines in the same manner as those which happened in the Middle East and financial centers of the world from 1974 to 1984, with everybody earning their respective comfortable livelihood, while pricing basic prime necessities at reasonable and affordable levels.(PNA/Ben Serrano)