Lafayette ready to ship after resuming copper production
Filed under: Mine - RapuRapu, Mineral - Copper, Mineral - Gold, Mineral - Silver, Mineral - Zinc, Operator - Lafayette, Operator - RRMI, Operator - RRPI, Operator - RapuRapu Mining, Region 05 - Masbate
AUSTRALIA’S Lafayette Mining, the first overseas company to run a copper mine in the Philippines after investment rules were relaxed in 2004, will next month send its first bulk shipment since the project reopened.
The company will export 2000 tonnes of copper concentrate and 3000 tonnes of zinc concentrate from its mine on the island of Rapu Rapu, Albay province, 350 kilometres south of Manila, Bayani Agabin, a spokesman at the Lafayette Philippine unit said yesterday.
The mine closed in November 2005, four months after starting operations, following two cyanide spills from the tailing dam to island creeks. It was allowed to resume full operations on February 8. Overseas companies are developing mines in the Philippines amid surging demand for metals driven by China.
The shipment will be sold by LG International, the trading unit of South Korea’s fourth-largest industrial group, Mr Agabin said, declining to name a buyer. LG International owns a stake in Lafayette’s Philippine unit.
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