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,...
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...
A news report said Malacañang has remanded the appeal of Sagittarius Mines Inc. (SMI) to the Department of Environment and Natural Resources (DENR), which earlier denied the application for an environment clearance certificate (ECC) by the Tampakan-based mining firm. In January last year, the DENR cited the existing provincial environment code of South Cotabato which...
The Xstrata-controlled Sagittarius Mines Inc (SMI) suffered yet another setback when the Sangguniang Panlungsod (SP, or Provincial Board) of South Cotabato on Monday, January 21, reiterated a previous resolution reaffirming the validity of a provision of the Provincial Environment Code that bans open pit mining in the province. The resolution dashed any hopes SMI had...
Australia’s mining giant, Xstrata Coal, is reported to have written Mumbrella, an online discussion site of “everything under Australia’s media and marketing umbrella” this week. The letter contains a threat of a legal defamation suit over a published video parody on Australia’s mining business allegedly posted by Mumbrella. The Australian confirmed the letter to be genuine. Tom Cregan,...
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