A NUMBER of parties are interested in the sale by Indophil...

A NUMBER of parties are interested in the sale by Indophil Resources of 34.23 per cent of its stake in the copper-gold Tampakan project in The Philippines, according to Indophil.

A company spokesman said the interested parties were "at the big end of town".

Analysts have tentatively pegged the development cost for Tampakan at $US3 billion ($3.7bn).

Indophil gave the sale update after Tampakan's joint-venture partners announced they had given the go-ahead for a final feasibility study of the project.

"The decision to develop a major copper mine at Tampakan will depend on the outcomes of the feasibility study," Sagittarius Mines president Peter Forrestal said.

Diversified miner Xstrata holds a 62.5 per cent stake in Tampakan through subsidiary Sagittarius Mines.