PMEA Blog

From: www.bloomberg.com
By Jesse Riseborough and Luzi Ann Javier
July 21 (Bloomberg) — Suspected Communist rebels attacked Xstrata Plc’s $3 billion Tampakan mine in the Philippines, which may be Southeast Asia’s largest untapped copper deposit, according to the military and project partner Indophil Resources NL.
The group burned a drill rig and police are investigating, the Melbourne-based company […]

From: afp.google.com
TAGUM, Philippines (AFP) — Communist guerrillas Sunday shot and wounded two Philippine soldiers after an attack that saw drilling equipment owned by the Swiss-based mining giant Xstrata set on fire.
The New People’s Army (NPA) struck before dawn near the town of Kiblawan on Mindanao island, where Xstrata subsidiary Sagittarius Mining Inc. is developing a […]

From: business.inquirer.net
By Conrado Banal III
Philippine Daily Inquirer
In the New York leg of her US visit this week, the Grandma at the Palace will keynote a seminar. Hmmm, rather interesting!
Well, this is New York, the world’s financial capital. I don’t think the president wants to go there to watch a Broadway musical. Her swing to New […]

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: 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: www.gmanews.tv
MANILA, Philippines - Citing the project’s threat to the environment, the Catholic Church in South Cotabato has increased pressure on the provincial government to block a large-scale mining in Tampakan town.
The Catholic Bishops Conference of the Philippines said Friday that the diocese of Marbel issued a pastoral statement questioning such mining projects.

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From: business.theage.com.au
By Barry Fitzgerald
A SCARE campaign by Lion Selection about the dangers of mining investment in the Philippines — in support of its takeover defence — has angered other Melbourne-based groups that have interests in the country.
Included in that number is Indophil, the subject of a $1-a-share takeover bid from Xstrata and the group that […]

From: www.mindanews.com
By Edwin G. Espejo/MindaNews contributor
KORONADAL CITY (MindaNews/9 June) — The Catholic church here — including the bishop and 50 priests from the Diocese of Marbel — has again called for a halt in the ongoing exploration activities of mining giant Xstrata Copper in the hinterlands of Tampakan in South Cotabato.
The church’s position was contained […]

From: business.theage.com.au
By Ian McIlwraith
INDOPHIL Resources has added another layer to the complex battle with its largest shareholder, Lion Selection, by complaining to the Takeovers Panel.
A statement from the panel said the Melbourne-based explorer claimed some statements by Lion in response to Indophil’s $340 million share swap offer were “false and misleading, contain omissions and […]