Mindoro Drills Pan de Azucar Copper-Gold and Pyrite Project
Mindoro Resources Ltd. (CVE:MIO) commences drilling on its Pan de Azucar Project, Iloilo Province, Philippines.
Articles Tagged "Philippines"
Philippines' Copper Mining Industry hit by financial slump
Mining companies in the Philippines are laying off staff, delaying some projects and scrambling for cash as the global crisis financial drags down commodities prices, industry officials say. With copper prices sinking, even the largest Philippine mining firm, Philix, has become more a gold mine than a copper mine. For full story, click here
S. Koreans May Restart Copper Mine
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 and 70 percent owned by Korea Resources Inc. and LG International Corp. The Rapu Rapu mine, the first fully [...]
Manila's Philex to Buy Out Anglo American
The most valuable listed mining firm in the Philippines, Philex Mining Corp, intends to spend $55 million buy out Ango American Pic‘s fifty percent share of their gold and copper venture. The buyout would leave Philex and its subsidiary, Philex Gold Inc. with one hundred percent ownership of Boyongan gold and copper mine. A feasibility [...]
Xstrata Lifts Stake, Indophil Shares Dive
Xstrata Pic, the Anglo-Swiss mining group, announced that they would be increasing their stake in Indophil Resources NL by just under 20 percent at 17.8 percent. Indophil’s shares dropped due to lack of confidence in a competing bid. Xstrata, which had been in a bidding war for Indophil, said it bought a 17.8 percent stake [...]
Philippines' Atlas to Supply Copper
MRI Trading, a privately-owned Swiss company, has purchased 60,000 dry metric tonnes of copper concentrate from Atlas Consolidated Mining. The copper will be supplied out of their Toledo mine in the central Philippines. This is Atlas’s first supply deal since the Toledo mine was closed in 1994 after being flooded by a typhoon. The Toledo [...]
Armed Gang Attacks Tampakan Mine Rig
One of the world’s largest untapped copper deposits suffered setbacks after an armed gang attack. The mine exploration rig at Tampakan copper project in the Philippines was set on fire by the attackers. The mine is owned by Xstrata Copper and Indophil Resources. The Tampakan lode, with 11.6 million tons of copper and 14.6 [...]
US Copper Up Slightly
Crude oil’s rebound allowed for a more stable environment for energy resources including US copper futures, which saw a slight increase at Monday’s start. With oil bouncing back to $130 after inconclusive Iran talks and gold inching back over $965, the ‘safe haven players’ may be adding back some metals longs recently liquidated.” – RBC [...]
Manila's Toledo Copper Mine to Restart August
After fourteen years the Atlas Consolidated Mining Corp in Manila, Philippines has chosed to repoen its Toledo copper mine. What used to be the world’s third largest copper mine was closed after a typhoon flooded the operation. “With this start-up, our company will begin a historic journey of bringing the Toledo Mine to equal, if [...]
