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Filipino firm Alsons offers to buy Indophil stake in SMI for AUS$361m

Filipino firm Alsons offers to buy Indophil stake in SMI for AUS$361m

By Tue, Sep 23, 2014 10:05AM UTC Comments Off Filipino firm Alsons offers to buy Indophil stake in SMI for AUS$361m

Alsons Prime Investment Corporation (APIC) has offered to buy Indophil Resources NL stake in the Philippines at AUS$0.30 per share for AUS$361 million (Php 14.3 billion) in cash, according to a report submitted to the Australia Stock Exchange early Tuesday. The acquisition is subject to the approval of shareholders, the Australian Foreign Investment Review Board...

Philippines: SMI renews bid for $5.9bn mining project

By Wed, Aug 20, 2014 1:14PM UTC Comments Off Philippines: SMI renews bid for $5.9bn mining project

Despite government failure to address policy issues in the mining industry, Sagittarius Mines Inc (SMI) is still hopeful it will get the necessary permits and clearances needed to pursue its stalled Tampakan Copper and Gold Project. It is poised to conduct more rounds of consultations with stakeholders, including obtaining the consent of communities and local...

Philippines: Is Indophil bracing for SMI takeover?

By Thu, Nov 07, 2013 9:28AM UTC Comments Off Philippines: Is Indophil bracing for SMI takeover?

Indophil Resources NL of Australia is reportedly in discussion with partner Glencore-Xstrata Ltd for possible acquisition of the latter’s controlling 62.5 percent stake at the beleaguered Sagittarius Mines Inc, holder of the controversial Tampakan Copper and Gold Project in the southern Philippines. Reports said Indophil and Glencore are “in a range of discussions.” Richard Laufmann,...

Philippines: Tribal elder and son slain in bloody mining dispute

By Sun, Sep 01, 2013 10:42PM UTC 1 Comment Philippines: Tribal elder and son slain in bloody mining dispute

Almalew (pronounced al-me-law), the Blaans’ way of expressing hatred and exacting revenge for killed or murdered kin. Why do angels of death strike before the break of day in this troubled paradise called Bong Mal? And why did they murder the tribe’s most respected sage – the fulong ? These two questions will forever haunt...

Philippines mining giant SMI faces more delays

By Thu, Apr 04, 2013 5:01AM UTC 1 Comment

GENERAL SANTOS CITY (April 3) – Sagittarius Mines Inc. (SMI) is facing potential further delays in its operations in the southern Philippines due to the repeated deferment of the merger between world commodities giant trading firm Glencore and global mining giant Xstrata Plc. In a report Monday, the Australian Broadcasting Corporation (ABC) said the merger...

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