Connect with us

Hi, what are you looking for?

Economy

Senator files bill that seeks to develop sea east of Philippines

A SENATOR has filed a bill that seeks to develop and explore Benham Rise, also known as the Philippine Rise, for natural resources.

Senator Maria Imelda Josefa “Imee” R. Marcos cited the need for an “integrated approach” in developing the waters east of northern Philippines.

The 24-million-hectare undersea feature contains untapped natural gas and heavy metals, she said in Senate Bill 2039, citing the University of the Philippines Institute of Maritime Affairs and Law of the Sea.

The area is also rich in manganese deposits used in steel production and in the ingredients of fertilizer and ceramics, she added.

The measure will create a Philippine Rise Resource Development Authority that will enforce the country’s rights over the area, including research and exploration.

The agency will also facilitate the participation of all sectors in developing the extinct volcanic ridge in the Philippine Sea that is about 250 kilometers east of the Dinapigue, Isabela province.

The plateau had not been included in the Philippine territory even if it is near the archipelago. The Philippines in 2009 filed a partial claim with the United Nations Commission on the Limits of the Continental Shelf for Benham Rise, which was approved three years later.

President Rodrigo R. Duterte in 2017 issued an executive order renaming Benham Rise to Philippine Rise. — Vann Marlo M. Villegas

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

THE SENATE on Monday ratified the Bicameral Conference Committee report on a measure that seeks to lower the minimum investment hurdle for foreign retailers...

Economy

The Philippines is one of 17 countries that have kept schools fully closed since the pandemic began, according to a report released by the...

Economy

Workers are busy cleaning in preparation for the restaurant’s reopening in Marikina City. — PHILIPPINE STAR/ MICHAEL VARCAS THE RESTAURANT industry is anticipating some...

Economy

EXCISE TAX collections from cigarettes jumped by 31% to P83 billion in the first seven months, with more than half coming from Philip Morris...

Investing

The world’s largest franchisor of home service brands, has announced the acquisition of Pimlico Plumbers, central London’s leading independent residential and commercial service and...

Economy

MEGAWORLD Corp. will be spending P40 billion to develop an eco-tourism township in Palawan in the next 10 to 15 years, Andrew L. Tan’s...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Economy

US President Joseph R. Biden, Jr., will rely on ally countries to supply the bulk of the metals needed to build electric vehicles and focus on...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.



Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!