pending mining policy, page-39

Tampakan mining could steer Philippine economy
By Jun Pasaylo Home Updated February 16, 2012 11:47 AM 2 comments to this post
MANILA, Philippines -- The Sagittarius Mining Inc. believed that its copper-gold project in Tampakan in South Cotabato would be a possible game changer in the country's dwindling economy.

In a meeting hosted by the Chamber of Mines of the Philippines today, SMI noted that the Tampakan project could contribute an average of one percent in the country's Gross Domestic Product (GDP) annually within its 20-year mine life.

With its 15 million tonnes of copper and 17.9 million ounces of gold deposits, the mining undertaking is considered as one of the largest in the world.

At the event at Marriot Hotel at Resort World Manila, SMI said the project could be an economic driver in the Philippines that could entice more foreign investors in the country.

It also assured to operate to the highest international standard of responsible mining

The SMI noted that the pending USD5.9 billion investment could be a key indicated for potential international investor to come in.
 
If the project is approved, the mine is likely be the largest in the country, and probably one of the largest in the world. the mine site covers approximately 10,000 hectares in the boundaries of Tampakan and Kiblawan in South Cotabato.