Rapu Rapu mining operators seek protection against creditors
February 8th, 2008
Filed under: Mineral - Copper, Mineral - Gold, Mineral - Silver, Mineral - Zinc, Operator - Lafayette
From: Inquirer.net
By Enrico dela Cruz
Thomson Financial
MANILA, Philippines — Operators of the Rapu Rapu mining project in the Philippines have filed a court petition seeking protection from creditors and disclosed Wednesday that negotiations with a Korean investor were underway.
The petition comes less than two months after Australia’s Lafayette Mining Ltd. decided to come under voluntary administration. Lafayette has a 74 percent interest in the Rapu Rapu polymetallic project in Albay province in the southern part of Luzon, the Philippines’ main island.
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