Philippines grants Tampakan environmental certificate
PERTH (miningweekly.com) - The Tampakan copper/gold project has moved a step closer to development after the Philippines made a key environmental approval.
ASX-listed Indophil Resources, which holds a 37.5% interest in the project, said on Wednesday that the environmental approval in focus was the mine environmental compliance certificate (ECC), which was awarded after the project had undergone a range of considerations by the Philippines government, since the final mine environmental-impact assessment was submitted in December 2011.
Indophil CEO Richard Laufmann noted that, while the grant of the ECC was not the final step in the environmental clearance for Tampakan, it was a clear indication that the process should proceed smoothly.
“The granting of the ECC will be an important milestone that will allow project partners to commence programmes associated with other key approvals and regulatory requirements. It is also a strong sign, off the back of a recently framed new mining policy, that the Philippines government welcomes foreign investment in the context of responsible mining,” he said.
The $5.9-billion Tampakan project, which is majorly held by diversified miner Xstrata, contains an estimated 2.94-billion tons of mineral resource, containing around 15-million tons of copper and around 18-million ounces of gold.
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