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...
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...
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,...
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...
Don’t look now but a major management shakeup could take place in Sagittarius Mines Inc. (SMI) once the long anticipated merger between the world’s fourth largest copper producer and one of the world’s biggest commodities firms is completed within the year. Although the expected March 15 merger deadline between Xstrata Plc and commodities giant...
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