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Philippines: Alsons takeover of Indophil okayed

By Tue, Jan 06, 2015 10:26AM UTC 0 Comment

Exploration firm Indophil Resources NL of Australia becomes a wholly Filipino-owned company effective January 13 when it begins de-listing from the Australian Stock Exchange following the approval of its sale to the Alsons Group in a stockholders meeting in December....

Philippines: Is Indophil bracing for SMI takeover?

By Thu, Nov 07, 2013 9:28AM UTC Comments Off on 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,...

Major management shake-up looms in SMI

By Sun, Mar 03, 2013 10:54AM UTC 0 Comment

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...

Passing the buck in Cotabato

By Sat, Feb 09, 2013 7:06AM UTC 0 Comment

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...

Philippines: Mining giant Xstrata-SMI suffers another blow

By Thu, Jan 24, 2013 8:31AM UTC 0 Comment

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...