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S. Koreans May Restart Copper Mine
October 15, 2008 @ 9:10 am In Copper Company News
The Philippines is most likely to grant a green light for operations to begin again at the South Korean-owned Rapu copper and zinc mine. The mine is 30 percent owned by Malaysia Smelting Corp Bhd [1] and 70 percent owned by Korea Resources Inc. and LG International Cor [2]p.
The Rapu Rapu mine, the first fully foreign-owned mine to open in the country after the Supreme Court allowed foreigners up to 100 percent ownership of projects, was shut for more than a year after cyanide spills in 2005.
Read the full article here [3].
Once it resumes production, the Rapu Rapu mine is forecast to generate annual revenues of $350 million from yearly production of around 11,000 tonnes of copper and 13,000 tonnes of zinc. ($1=47.5 pesos)
Find the article here [3].
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URL to article: http://copperinvestingnews.com/505/s-koreans-may-restart-copper-mine/
URLs in this post:
[1] Malaysia Smelting Corp Bhd: http://www.msmelt.com/
[2] LG International Cor: http://www.lgicorp.com/eng/main_eng.jsp
[3] here: http://www.reuters.com/article/rbssPreciousMetalsMinerals/idUSMAN25541420081015
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