sagittarius bullish on tampakan

Sagittarius bullish on Tampakan mine works
by Othel V. Campos

TAMPAKAN, South Cotabato?Sagittarius Mines Inc. said it remains optimistic of starting ground works for the $5.2-billion Tampakan copper-gold project by 2012.

?The open-pit ban is still being reviewed. While we await their [Sangguniang Bayan] decision, we need to work on numerous documentary requirements, like endorsements [of local government units] and several approval before we can start construction next year,? company spokesman John Arnaldo told reporters in a briefing Sunday.

Arnaldo said tribal groups and municipal governments had become supportive of the company since stakeholders started consultations last year.

Blaan tribe chief Juanito Malid said his group now had full support for Sagittarius Mines, which promised to provide jobs and housing support to those who will be dislocated once the company started civil works on the concession.

?Years back, we were not so keen on allowing mining companies in our lands. Our good relationship with SMI erased our doubts. In fact, we are now reviewing our principal agreement that will expire in 2012. The principal agreement is due for review every four years,? Malid said in a separate interview.

The entire tribe is likely to endorse the project of Sagittarius Mines, a joint venture among Xstrata Plc of Switzerland, Indophil Resources NL of Australia and Filipino stockholders.

source Manila Today