Glencore’s Philippines unit cuts budget, jobs

Aug 13, 2013 | 03:55 PM | Shivani Singh

Tags  Glencore Xstrata, copper, gold, Tampakan, environmental, Sagittarius Mines, Shivani Singh

SINGAPORE — Glencore Xstrata Plc’s Philippines unit Sagittarius Mines Inc. (SMI) has cut its budget and slashed its work force by about 87 percent at the $5.9-billion Tampakan copper-gold project as it continues to "face substantial development challenges," including environmental regulations and a complex project approval process.....





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