AS EXPECTED BY many industry observers, Indophil Resources NL will hand over the project management at its Tampakan copper-gold in the southern Philippines to Xstrata Queensland Ltd by the end of March. Late December last year, the mining house exercised its option to acquire 62.5 percent of the open pit project and is sole funding its expenditure. The Melbourne-based Indophil now holds a 32.5 percent interest in the project, while Filipino partner Alsons Corporation has a 5 percent stake. B class shareholders - with limited voting and capped dividend rights - are the Tampakan Mining Corporation and Southcot Mining Corporation (known as the Tampakan Group of Companies). The definitive feasibility study started in late 2006 and was continuing at the time of going to press. This activity included working through aspects of the environmental impact statement.
展开▼
