Nexsun says Aquino encouraged it to invest in RP

Nexsun Corp., a Los Angeles-based green energy management firm, is diversifying into mineral exploration and development worldwide, saying the determination of the Aquino administration to enhance the Philippine investment climate was encouraging. The company said it recently invested in Peniel Resources Mining, J&M Resources Mining, Bogo Resources Mining, and T&T Resources and Mining, James Kim as president of the four mining companies. "We intend to invest substantial capital in Philippine mining, as a showcase of our trust and confidence in the new administration of President Benigno Aquino III," Kim told reporters Tuesday. The mining sector has a lot of potential, and only needs proper management to give the Philippine economy an added boost, he said. Since 2004, total investment in the sector amounted to $2.8 billion. The Aquino administration expected to attract $10 billion worth of new mining investments over the next three years. —VS, GMANews.TV