Rapu-Rapu mine firm runs to court for shield vs. creditors
Filed under: Mine - Masbate, Mine - RapuRapu, Mineral - Copper, Mineral - Gold, Mineral - Silver, Mineral - Tin, Mineral - Zinc, Operator - Lafayette, Operator - RRMI, Operator - RRPI, Operator - RapuRapu Mining, Region 05 - Masbate
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 and president of Lafayatte Philippines Inc., which oversees the Rapu-Rapu group of companies, said they are filing a petition for rehabilitation so the mining firm can continue normal operations.
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