PMEA Blog

MANILA, Feb 19 (Reuters) - Lafayette Philippines, a unit of Australia’s Lafayette Mining (LAF.AX: Quote, Profile, Research), is in talks to sell its copper and gold mine to partner Korean Resources Inc (Kores), a government official said on Tuesday.

The director of the Mines and Geosciences Bureau told reporters that Kores was conducting due diligence on Lafayette’s central Philippine mine, which was shut for over a year after cyanide spills in 2005, pushing its parent group close to bankruptcy and tripping up foreign investment in the sector.

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