PMEA Blog

From: www.miningweekly.com
By: Liezel Hill
The world’s fourth-biggest copper miner, Xstrata Copper, will spend C$121-million to expand its Kidd underground mine, in Northern Ontario, Canada, the company announced on Wednesday.
The project will involve deepening the copper and zinc mine,to add 3,4-million tons of ore to the mining plan and extend the life of the operation by one […]

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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KUALA LUMPUR: Malaysia Smelting Corporation Bhd (MSC) has proposed to acquire a 30% stake in the Rapu Rapu project, which is involved in mining copper, zinc, gold and silver, in the Philippines for US$18.90mil (RM59.7mil).
MSC said on Thursday that it had signed a framework agreement with Philco Resources Ltd, LG International Corporation and Korea Resources […]

From: Inquirer.net
By Enrico dela Cruz
Thomson Financial
MANILA, Philippines — Operators of the Rapu Rapu mining project in the Philippines have filed a court petition seeking protection from creditors and disclosed Wednesday that negotiations with a Korean investor were underway.
The petition comes less than two months after Australia’s Lafayette Mining Ltd. decided to come under voluntary administration. […]

From: Philippine Daily Inquirer
By Ronnel Domingo
MANILA, Philippines — The parent firm of TVI Resource and Development (Philippines) Ltd., a mining company in the southern province of Zamboanga del Norte, announced it had agreed to extend talks with Atlas Consolidated Mining and Development Corp. on a possible joint venture to develop a P159-million project.
Canadian firm TVI […]

GLOBAL miner Xstrata and its Australian partner Indophil Resources are potentially facing further raids at their Tampakan project in The Philippines after communist rebels warned of a campaign to stop the mine going ahead.
But Xstrata said it remained committed to the project, which it said had strong government and community support.
The communist-backed New Peoples Army […]

Australia-listed Lafayette Mining Ltd entered voluntary administration on Tuesday to avoid bankruptcy and give it time to obtain new capital or to sell its troubled Philippine mining business.
Lafayette was the first foreign company to operate a mine in the Philippines after a law granting full foreign ownership of local projects was upheld in 2004.
But cyanide […]

From: Philippine Daily Inquirer
By Ephraim Aguilar
LEGAZPI CITY, Philippines — Indebted by almost $240 million, the Rapu-Rapu group of companies operating a copper and zinc mine in Rapu-Rapu island town in Albay will seek court protection from creditors even as it denied claims by anti-mining groups that the mine firm has gone bankrupt.
Carlos G. Dominguez, chairman […]

From: Philippine Daily Inquirer
By TJ Burgonio
MANILA, Philippines — The financial troubles of Lafayette Mining should prod the government to close down the Australian firm’s mining project in Albay, an anti-mining alliance said on Wednesday.
Lafayette Mining, which owns 74 percent of Lafayette Philippines that runs an open pit mine in Rapu-Rapu island, entered voluntary administration Tuesday […]