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Several Mining Companies Hold Plans New Mines Onstream
The global financial crisis and sharp falls in metals prices have forced several companies to abandon or put on hold their plans to bring new mines onstream.
Philipine Coal Mine Company, Sultan Mining Needs Capital to Ramp Up Coal Mine Production
Philippine coal miner Sultan Mining & Energy Development Corp. Wednesday said it will use proceeds from its planned initial public offering to ramp up coal production, helping the company to swing to profit within a year.
Sultan produces 1,000 metric tons of coal from its mining claims in Bislig, a town in southern Philippines, up from [...]
Local Coal Mining and Trading Firm, Philippine Stock Exchange Approve Sultan Mining at Stock Market and Trade
n a statement, the local coal mining and trading firm said it would offer shares worth P480 million, or 33.5 percent of the company to investors during a road show on June 18. It will sell its shares to the public for the first time from June 26 to July 2, and subsequently list in [...]
Xstrata Copper and Gold Mining Project in the Philippines US$2bn
Global mining group Xstrata, which has coal and alloys operations in South Africa, on Wednesday confirmed that its US$2bn Tampakan copper and gold mining project in the Philippines had been raided and two buildings had been torched.
Communist rebels representing the New People’s Army claimed responsibility for the raid, saying its singular objective was “punishing [...]
Review mining permits in N.Vizcaya
The Philippine Environment Secretary has ordered a review of permits issued to mining firms in the northern province of Nueva Vizcaya following complaints by local tribes that they were not adequately consulted.
Australia’s OceanaGold , London-listed Metals Exploration and Royalco , also of Australia, all have operations in Nueva Vizcaya.
“We will look into this lack of [...]
RP on cusp of mining boom amid buoyant metals prices
Boosted by soaring ore prices, cheap capital and a more investor-friendly regime, mining companies are rushing in and snapping up tenements in the Philippines seeking to profit from the developing world’s industrial boom, experts say.
From majors like BHP Billiton, Anglo-American and Xstrata to bare-bones exploration outfits, they are betting hundreds of millions of dollars that [...]
Manila says nine firms keen to develop Diwalwal gold
Nine local and foreign firms have bought bid documents to join a Philippine government auction on March 2 for the right to explore and develop a gold mine on Mount Diwalwal, a senior official said on Tuesday.
“By the end of this month or early next, we will know the names of prequalified bidders,” Jaime de [...]
DENR adopts stricter process in approving mining contracts
The government has introduced a stricter procedure of approving mining contracts that gets foreign and local investors to answer to questions of national interest including benefits sharing and environmental protection in potential mining areas.
Department of Environment and Natural Resources (DENR) Secretary Angelo T. Reyes said that government has started an interview process in mining projects [...]
