MANILA, Philippines – Chief peace negotiator Miriam Coronel-Ferrer said Sunday (July 14th) that the government could reach a final deal with the Moro Islamic Liberation Front (MILF) within weeks, AFP reported. His comment came after the signing late Saturday of an agreement on a wealth-sharing formula.

Under the deal, seen as a major breakthrough, the government agreed to give the rebels a 75% share of earnings from natural resources and metallic minerals in a proposed autonomous region for the Muslim minority in the southern island of Mindanao, Ferrer said.

MILF vice chairman for political affairs Ghazali Jaafar said the rebels had originally wanted at least a 60-40 sharing scheme over energy resources but increased their demands.

But he predicted a "more contentious" round of negotiations ahead. "The MILF fighters will not disarm unless clear conditions and terms for their safety are met. There must also be an assurance the fighters will be free from harassment from troops once they are disarmed, if ever," Jaafar said.