Texas-based Ocean Minerals says the area is also rich in scandium, a key ingredient for making an extremely light, strong, corrosion resistant, heat tolerant and weldable alloy.
A large lead and zinc deposit, allegedly China's largest, has been discovered in northwest China's Xinjiang Uygur Autonomous Region, local authorities announced on Sunday.
The equipment maker is currently spending most of its R&D budget in its digital area, which aims to help miners reduce the amount of machinery needed at operations.
Duterte's government has also ordered a stop to small-scale mining operations working outside the country's mining co-operatives system, a decision that touches gold miners.