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    Increasing iron ore demand, coupled with the depletion of highgrade hematite ores in the United States, after World War II led to development of lowergrade iron ore sources, principally the utilization of magnetite and taconite. Ironore mining methods vary by the type of ore being mined.

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    The Philippine Mining Bureau was set up in 1900 to process and administer claims and all related transactions pertaining to mining. The Benguet Mine was opened in 1907. It was the first modern gold mine in the Philippines. Seventeen other mining companies followed suit in Baguio and Benguet. Commercial mining was born in the Philippines.

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    The Philippines is situated along a welldefined belt of volcanoes called the CircumPacific Rim of Fire where the process of volcanism and plate convergence resulted in the formation of abundant and important metallic mineral deposits of gold, copper, iron, chromite, nickel, cobalt and platinum.

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