Indophil: JV OKs Philippines Tampakan Final Feasibility Study
26 Juni 2009 - 5:40AM
Dow Jones News
Indophil Resources Ltd. (IRN.AU) Friday said the joint venture
partners of the giant Tampakan copper-gold project in the
Philippines have given the formal go-ahead for a final feasibility
study.
The study targets an initial 20 year mine life at an average
annual production of 340,000 metric tons of copper and 350,000 troy
ounces of gold with a cash cost estimate of less than 46 U.S. cents
a pound after gold credits.
Indophil holds a 34.23% interest in Tampakan via its stake in
Sagittarius Mines Inc., with 62.5% held by diversified miner
Xstrata PLC and 3.27% by Alsons Corporation.
Based on the current schedule, the feasibility study is expected
to be submitted to the government by the second quarter of 2010,
Sagittarius said in a statement.
Indophil has been trying to sell its stake in Tampakan, and
chief executive Richard Laufmann said the company has signed
confidentiality agreements and has opened a data room.
-By Elisabeth Behrmann, Dow Jones Newswires;
61-2-8272-4689 elisabeth.behrmann@dowjones.com
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