filipino equity may ease tampakan minetension

http://www.gmanews.tv/story/203312/filipino-equity-may-ease-tampakan-mine-tension-official

"Leo Jazareno, Mines and Geosciences Bureau acting director, told reporters that the entry of San Miguel Corp. into Indophil Resources Inc. could have a positive impact on Tampakan.

"The entry of San Miguel it changes the landscape in Tampakan. Since San Miguel is Filipino, this will probably address the issue about foreign participation. The cultural opposition to mining in Tampakan will be mitigated," Jasareno said.."

...

"The bureau said that SMC is trying to buy more Indophil shares.

"The 10 percent share purchase has already been firmed up as reported to us. However, it looks like that's an initial transaction. SMC is still doing due diligence. Indophil has reported that there's an indication that San Miguel will buy more," saidJasareno.

"There's is indication that eventually San Miguel will take the entire 37.5 percent of Indophil in SMI," he added, referring to Sagittarius Mines Inc., the lead operator of the Tampakan project."


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http://www.malaya.com.ph/10142010/busi6.html