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The Philippines sits on vast reserves of minerals, both metallic and non-metallic. Aside from gold and copper, the country is also rich in iron ore reserves of almost 300 million metric tons.

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Australia was responsible for roughly half of all iron ore exports by value. Latin America (excluding Mexico) and Caribbean countries accounted for 22.1% worth of iron ore exports, trailed by European suppliers at 9.1%, Asian exporters at 6.4%, African suppliers at 6.1% then North American exporters at 4.5%.

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