QUOTE (filipinoy @ Jan 25 2011, 05:09 AM)

i once picked an old 60s/70s encyclopedia ... & philippines was in the top 10 countries in gold production...
We may have been producing a lot back then but we sure didn't get to keep most of it.
In 1907, Benguet Mine - the first modern gold mine in the country - was established. Subsequently, 17 other adjacent gold mines were opened at the Baguio district. The peak of U.S. colonial rule in the Philippines in the 1930's was considered as the boom years of the Philippine large-scale mining industry, especially in gold mining. In 1936, the country 's third mining law was enacted (Commonwealth Act No. 137) and the Bureau of Mines was also created. By and large, there were 40 operating gold mines producing 30 tons per year up to the outbreak of World War II. In the country's export trade, gold was the third most important commodity, exceeded only by sugar and coconut respectively.
Commonwealth Act No. 137 :
Section 110. During the Commonwealth of the Philippines, citizens of the United States or corporations organized and constituted under the laws of the United States or of any state or territory thereof, and authorized to transact business in the Philippines, shall enjoy the same rights under this Act as citizens or corporations of the Philippines.As a colony of America, that act effectively allowed Americans to partake of the Philippines mineral resources as if it were their own, despite being granted "independence" later and being a loyal ally during WW2, the United States later withheld badly needed war reparations from the Philippines until the Bell Trade Act was passed in their favor from 1946-1955. Which among other things allowed Americans the same privileges to help themselves to our natural resources as when we were still their colony. The act was later continued in the form of the Laurel–Langley Agreement from 1955-1974.
As the Laurel-Langley Agreement and similar colonial relics were about to end in 1974, Marcos made a grab at the at the U.S. controlled big mining industry. The decade 1980-1990, towards the end of martial law (1982) and the fall of Marcos (1986), triggered the painful dying process of large-scale metallic ore mining that was marked by a domino type of shutdown of 14 big and medium-sized metal mines.
The Department of Environment and Natural Resources (DENR) admitted that since 2002, there are only eight operating large metal mines.
http://www.prrm.org/publications/gmo2/historical.htm