PMEA Blog

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 the Masbate project comes on stream by end-2008, said Eleazar Quinto, undersecretary for field operations at the Department of Environment and Natural Resources.

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