Philippine problems trigger crisis for Lafayette
December 20th, 2007
Filed under: Mineral - Copper, Mineral - Gold, Mineral - Silver, Mineral - Tin, Mineral - Zinc, Operator - Lafayette, Operator - RRMI, Operator - RRPI
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 Philippine operations, or a restructuring or recapitalisation of the Lafayette group.
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