PMEA Blog

From: Inquirer
By Enrico dela Cruz
MANILA, Philippines — (UPDATE) Shares were firmer midmorning Thursday, extending gains from the previous session, with Philex Mining Corp. advancing following overnight gains in prices of gold and copper.
Fund managers sprucing up portfolios with the year drawing to a close also chased select blue chips, including heavyweights Philippine Long Distance Telephone […]

From: Inquirer
By Elizabeth Sanchez-Lacson
PHILEX Mining Corp. is diversifying into new businesses after saying it has spent $5 million to acquire a 46-percent stake in a Canadian company with oil and gas properties.
In a disclosure last Friday, Philex vice president for finance Renato Migrino said Philex Mining bought through a private placement 200 million shares of […]

From: Inquirer
By Daxim Lucas
MANILA, Philippines — The recent financial woes of Lafayette Philippines Inc. that brought the Australian-owned mine operator to the brink of bankruptcy has its roots in a past dispute between the firm and its supplier, according to officials familiar with the issue.
In an interview, a government mining regulator told the Philippine Daily […]

Australia-listed Lafayette Mining Ltd entered voluntary administration on Tuesday to avoid bankruptcy and give it time to obtain new capital or to sell its troubled Philippine mining business.
Lafayette was the first foreign company to operate a mine in the Philippines after a law granting full foreign ownership of local projects was upheld in 2004.
But cyanide […]

From: Philippine Daily Inquirer
By Ephraim Aguilar
LEGAZPI CITY, Philippines — Indebted by almost $240 million, the Rapu-Rapu group of companies operating a copper and zinc mine in Rapu-Rapu island town in Albay will seek court protection from creditors even as it denied claims by anti-mining groups that the mine firm has gone bankrupt.
Carlos G. Dominguez, chairman […]

From: Philippine Daily Inquirer
By TJ Burgonio
MANILA, Philippines — The financial troubles of Lafayette Mining should prod the government to close down the Australian firm’s mining project in Albay, an anti-mining alliance said on Wednesday.
Lafayette Mining, which owns 74 percent of Lafayette Philippines that runs an open pit mine in Rapu-Rapu island, entered voluntary administration Tuesday […]

CALGARY, ALBERTA, Dec 18, 2007 (Marketwire via COMTEX) — TVIPF | charts | news | PowerRating — TVI Pacific Inc. (TSX:TVI) (”TVI” or the “Company”) announced today that Mr. Joseph W. Bronneberg is no longer acting as Chief Financial Officer (”CFO”) of the Corporation, effective December 18, 2007. Mr. Luis Santos Jr., CFO Asia for […]

From: Financial Times
By Roel Landingin in Manila
Australia’s Lafayette Mining, the first foreign company to open a mine in the Philippines, appointed external administrators to take control of the company yesterday, after it failed to pay off debt.
Lafayette said it had appointed Ferrier Hodgson as administrators to allow the company to explore a possible sale of […]

From: Inquirer
Author: Amy R. Remo
MANILA, Philippines–Australian firm CGA Mining Ltd., which has spent $36 million on construction of its gold project in the central Philippines province of Masbate, will spend $58 million more in 2008, a government official said.
CGA expects to produce $74 million worth of gold annually throughout the eight-year potential mine life after […]

MELBOURNE, Australia, Dec. 10 /CNW/ - OceanaGold Corporation is pleased to announce the appointment of Jose (Joey) P. Leviste Jr. to the Board of Directors effective immediately.
Joey is currently the Chairman of its wholly-owned subsidiary company in the Philippines, OceanaGold (Philippines), Inc. and has been a Director of the Philippines company since OceanaGold’s merger with […]