Muslim rebel leaders in the Philippines ' troubled south will get access to the lion 's share of the region 's natural resources under a new agreement reached in peace talks with the government . The wealth-sharing deal , signed on Sunday after eight months of talks , is viewed as a key step forward in the quest for peace with the Moro Islamic Liberation Front ( MILF ) , which has fought for decades to set up an independent Islamic state on the resource-rich island of Mindanao . Progress in the peace process had stalled in the wake of a landmark treaty signed in October last year , which sought to put an end to a conflict that has left tens of thousands dead . `` For the benefit of Bangsamoro and the whole country , the government and the MILF once more demonstrated that they are invested in the process and will persevere in order to forge lasting peace in Mindanao , Miriam Coronel-Ferrer , the government 's chief negotiator said in a statement . The October agreement laid out the groundwork for a new autonomous region called Bangsamoro that will be administered by Muslims in Mindanao . The Philippines is a predominantly Catholic country but 5 % of its population is Muslim , according to the CIA World Factbook . Under the terms of the wealth-sharing deal , Muslims will get a 75 % share of income derived from the exploitation of metallic minerals in the area -- reported to include gold and copper . They will also receive 75 % of tax revenue , while any income derived from fossil fuels like petroleum , natural gas and coal will be split 50-50 with the central government in Manila . An end to the conflict could help bring investors to the region , which is reported to have untapped mineral deposits worth $ 312 billion . `` Wealth creation is important for the operation of the Bangsamoro , considering that the Bangsamoro territory is among the most underdeveloped in the Philippines due to the decades-old conflict , '' the statement added . However , hurdles remain in President Benigno Aquino 's plan to achieve lasting peace in the region by 2016 when his term ends . Agreements have yet to be reached on power-sharing and normalization -- which means giving up arms . A report published in June by the International Crisis Group warned that the peace process needed to find ways to support insurgents as they build normal , civilian lives . It estimates that the MILF has 11,000 to 12,000 fighters . `` The government has a poor track record of implementing peace agreements and the MILF is understandably wary of weakening its formidable firepower too soon , '' the report said . `` Secondly , even if it did hand over some guns , these are unlikely to be destroyed , as per international best practice ; military and police would rather keep the good ones , and there is a well-documented history of leakage into the black market from government , '' it added .
Wealth-sharing deal viewed as key step forward in quest for peace with Muslim rebels . Muslims will get a 75 % share of income derived from the exploitation of minerals . Rebels have been fighting for independence from the Philippines for years . Score: 6