Xstrata delays Philippines copper project by 3 years
Dec 13, 2012 | 06:06 PM
| Shivani Singh
Tags
Xstrata,
copper,
gold,
Tampakan,
Philippines,
South Cotabato,
delay,
Sagittarius Mines
SMI
SINGAPORE — Sagittarius Mines Inc. (SMI), a Philippines-based subsidiary of Xstrata Plc, has delayed production targets by three years to 2019 at its Tampakan copper-gold project in the South Cotabato region.
The $5.9-billion Tampakan copper-gold operation has been hit by a local government ban on open-pit mining and delays in getting environmental clearance.
The company now hopes to start construction by 2015, two years later than originally scheduled, with commercial production planned for 2019 compared with an earlier estimate of 2016. ....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here