Chinese miner eyes copper deal in Davao

A Chinese mining company is negotiating with Davaoeño Minerals Corp for a possible joint venture for a copper mining project in the village of Tagbinonga, Mati City in Davao Oriental.

But the regional office of the Mines and Geosciences Bureau declined to name the company so as not to pre-empt ongoing talks.

Deposits in the 7,000-hectare area include copper, gold and iron, the bureau said.

Another Chinese company, Sinophil, Corp., has started exploration on a 3,000-hectare site in Governor Generoso, Davao Oriental.

The bureau dismissed concerns that the Chinese would be wanton violators of environmental laws, adding that both the government and civil society would be monitoring their activities.

The most controversial and biggest project in the province is the 11,799-hectare nickel project in Pujada, Mati City, which is under the claim of Asiaticus Management Corp.

Asiaticus has severed ties with its foreign partner, Australian giant BHP Billiton, accusing it of failing to deliver on its investment promise. The case is pending before the Court of Appeals.

 

Category: ResourceAsia