OceanaGold looks at JV or sale for Philippine project
July 24th, 2008
Filed under: Mine - Didipio, Mineral - Copper, Mineral - Gold, Operator - OceanaGold, Region 02 - Nueva Vizcaya
From: uk.reuters.com
MANILA (Reuters) - Australian miner OceanaGold is talking to financial firms and rival gold miners about investing in or even buying its troubled copper and gold project in the northern Philippines, the company said on Wednesday.
The Didipio project is viewed as a test case for foreign ownership in the Philippine minerals sector, but has been hit by rising costs and turbulent equity markets. OceanaGold halted heavy operations at the site last month while it seeks to raise $185 million through a variety of options.
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