Philex buying out Anglo American in Philippines gold/copper mine venture

October 2nd, 2008

Filed under: Mineral - Copper, Mineral - Gold, Operator - Philex

Leading Philippines mining company, Philex, is to buy Anglo American’s 50 percent stake in the government prioritised Boyongan gold/copper project which will leave it with 100 percent control.

Philex Mining Corp , the Philippines’ most valuable listed mining company, said on Thursday it was buying out partner Anglo American Plc in a gold and copper venture for $55 million.

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