PMEA Blog

From: www.theaustralian.news.com.au
IT is not often that a board of directors finds reason to welcome naked defeat at an extraordinary general meeting. But that’s the space Robin Widdup & Co at Lion Selection found themselves in yesterday.
In voting down Widdup’s canny deal to sell 17.7 per cent of Indophil to Xstrata, shareholders of Lion Selection have […]

From: www.bloomberg.com
By Jesse Riseborough
June 20 (Bloomberg) — Indophil Resources NL Chief Executive Officer Richard Laufmann is leading a A$540 million ($514 million) cash management buyout to thwart a hostile bid from Xstrata Plc.
Laufmann, Hong Kong-based investment group Crosby Capital Ltd., and Alsons Group offered A$1.28 a share for Melbourne-based Indophil, 28 percent more than Xstrata, […]

From: newsinfo.inquirer.net
By Melvin Gascon
Philippine Daily Inquirer
BAYOMBONG, Nueva Vizcaya – Residents of a mountain village in Kasibu town scored another victory on Tuesday when the regional trial court here stopped a mining firm from demolishing their houses to make way for its gold-copper mining project.
Judge Vincent Eden Panay issued a preliminary injunction against the demolition in […]

From: www.gulfnews.com
By Barbara Mae Dacanay, Bureau Chief
Manila/Northern Luzon: Environment Secretary Joselito Atienza has asked a governor, several provincial officials, and protesting villagers to take away the barricade that they erected on a road leading to the facilities of a gold-copper mining firm which was accused of not paying taxes to the local government unit in […]

From: www.theaustralian.news.com.au
XSTRATA has upped its bid for Philippine miner Indophil but the junior’s boss has again implored Lion Selection shareholders to help block the Swiss mining giant’s grab for his company.
Lion Selection, which controls 25.4 per of Indophil, said on Friday it would recommend shareholders vote against two resolutions at today’s meeting unless Xstrata matched […]

From: business.inquirer.net
MANILA, Philippines — The country’s biggest gold and copper producer Philex Mining Corp. said on Thursday it has agreed to sell 49 percent of its wholly owned exploration unit, Philex Petroleum, to London-based Ashmore Investment Management for $5.9 million.
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From: newsinfo.inquirer.net
By Melvin Gascon
Northern Luzon Bureau
BAYOMBONG, Nueva Vizcaya — Governor Luisa Cuaresma shrugged off the case filed against her and four local officials by OceanaGold Philippines Inc. with the Office of the Ombudsman, saying she was just doing her duty when she opposed operations of the Australian mining firm in Kasibu town.
OceanaGold last week filed […]

From: newsinfo.inquirer.net
By Carla Gomez
Visayas Bureau
BACOLOD CITY — Ongoing exploratory drilling by Philex Gold Philippines in Hinobaan town in southern Negros Occidental endangers rice lands and coastal resources in the area, environmentalists said.
Efren Fabila, chairman of the Negros Concern for Environment Protection, said they would present the findings of a recently concluded environment investigative mission by […]

From: www.gmanews.tv
MANILA, Philippines - An organization of Rapu-Rapu Island residents has demanded the pullout of South Korean investors from the controversial Lafayette Phils. mining site, saying they want no mining operations on the island, which is part of Albay.
LG International and Korean Resources Corp. (Kores) gained majority control of Lafayette last April 2008 and took […]

From: newsinfo.inquirer.net
By Kristine L. Alave
Philippine Daily Inquirer
MANILA, Philippines – The Catholic bishop of Sorsogon province in the Bicol region has called for the “total closure” of a controversial mine in Rapu-Rapu Island, Albay.
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