PMEA Blog

MELBOURNE: Xstrata, the world’s fourth-largest copper producer, said Thursday it would take over the biggest untapped copper and gold deposit in the Philippines, increasing the country’s chances of benefiting from its raw materials wealth.
Xstrata will exercise an option to acquire 62.5 percent of Indophil Resources’s Tampakan deposit and take over management of the project on […]

LONDON (Mineweb.com) –In yet another move by one of the top mining companies to secure resources into the future, Xstrata has exercised its option to acquire 62.5% of the huge Tampakan copper/gold project in the Philippines from Australian junior explorer Indophil Resources (ASX: IRN).
The project site is located approximately 50km north of General Santos City […]

LONDON (AFX) - Toledo Mining Corporation Plc has reported a wider half-year pretax loss of 237,366 stg, from 169,027 stg, adding that a trial bulk metallurgical shipment from its Philippines project has been delayed until early January.
Philippines-based Berong Nickel Corporation (BNC), which Toledo owns 56.1 pct of, could not ship the 30,000 dry metric tons […]

GENERAL SANTOS CITY (MindaNews/18 Dec) — An Australian-backed huge mining venture in southwestern Mindanao has hurdled an ownership obstacle in its planned development of copper and gold deposits in the provinces of South Cotabato, Sultan Kudarat and Davao del Sur.
Gavan Collery, Indophil Resources NL corporate affairs manager, said that the Supreme Court has reaffirmed the […]

The Philippines unit of Australian mining firm Lafayette is not expected to resume normal operations in the short-term after a spate of typhoons damaged some of its facilities.
Typhoons damaged buildings, electricals, conveyor belts, roads and the wharf of the company’s metals production base on Rapu Rapu island, Albay province, 350km southeast of Manila, Lafayette Philippines […]

LAFAYETTE Mining announced Tuesday its environment systems had withstood the three recent typhoons and that it remained in full compliance of the conditions of the Department of Environment and Natural Resources for the resumption of its operations.
In a press statement, Lafayette said all its environmental infrastructure had withstood the tests of three consecutive typhoons — […]

Lafayette Mining says it is estimating the likely cost and time of restoring operations at its typhoon-affected Rapu Rapu polymetallic project in the Philippines.
“Preliminary estimates of the likely cost and timeframe to restore the site to operating condition are being developed and will be advised as soon as possible,” Lafayette said in a update to […]

Leading investment bank JPMorgan Chase and Co has bought a 5% stake in Melbourne-based Lafayette Mining Ltd, whose polymetallic Rapu Rapu mine in the Philippines, was recently damaged by two typhoons.
A total of 45 million shares were bought by JPMorgan Asset Management in the UK and JF Asset Management in Singapore, Lafayette said in a […]

SYDNEY — Lafayette Mining Ltd. said base metals production at its Rapu Rapu polymetallic project in the Philippines is not expected to resume for at least six weeks after damage from a typhoon.
Lafayette said in a statement that significant wave action had damaged the project’s pier and bulk loading facility and related equipment.
Typhoon Durian hit […]

Lafayette Mining Ltd’s troubled Rapu Rapu polymetallic project in the Philippines has suffered a further setback with a second typhoon causing damage to the operation.
The company said typhoon Reming (also known as Durian) hit the island of Rapu Rapu on Thursday night damaging infrastructure.