Phillipines

Medusa Mining cuts target for Surigao gold production

Medusa Mining Ltd. has slashed targets for gold production from its site in Surigao del Sur due to construction work and a worker fatality. The Australian miner now expects to produce 90,000 to 100,000 ounces of gold for the finanical year 2011 to 2012.

Gold Fields says Philippines deal likely

South Africa's Gold Fields Ltd is likely to take an option to acquire a 60% stake in an undeveloped gold-copper deposit in the Philippines before April, its chief executive said on Thursday. The company said in September it had made a non-refundable down payment of $66 million for an option to acquire the stake.

Philippines Represents Largest Nickel, Gold Projects in Southeast Asia, an Industrial Info News Alert

KOFU-SHI, JAPAN–(Marketwire – Aug 30, 2011) – Researched by Industrial Info Resources East Asia (Kofu-shi, Japan) — Southeast Asia metals and minerals projects currently account for approximately 5% of Industrial Info's global capital Metals & Minerals Industry coverage, representing more than $100 billion in capital investments

MRC acquires another gold mine

MRC Allied Inc. has acquired another gold and copper mine in Surigao del Sur for P140 million.

PDEA agents arrest 6 persons, seizes P700,000 worth of 'shabu' in Mt. Diwata gold mining area

The Philippine Drug Enforcement Agency (PDEA) Davao has filed drug charges against six persons arrested in a lightning raid at their safehouse in a gold-rush area in Mt. Diwata, Monkayo, Compostela Valley Thursday.

European Nickel well funded and making solid progress

European Nickel (LON:ENK) remains well funded with cash of US$7.54 million, its latest quarterly update reveals. This compares with US$10.91 million at the start of period, though the company’s direct shipments from its Acoje project in the Philippines.

Mindoro intersects high-grade copper at Pan De Azucar and plans to drill high-grade gold targets at Lobo

Mindoro Resources Ltd. (TSX VENTURE:MIO) (ASX:MDO) (FRANKFURT:WKN 906167) today announced further positive and encouraging copper-gold results from its Pan de Azucar Project in the Philippines, including PDA-28: 3.9 meters of 5.3 percent copper, 0.78 g/t gold, 55.7 g/t silver, 5.11 percent zinc from 9.2 meters and 54.8 meters of 1.17 percent copper and 0.77 g/t gold from 20.75 meters.

Philippines opts for Korean coal power

South Korea's state-run power company Korea Power Electric Corp. has completed a 200-megawatt power plant in the Philippines. The $451 million coal-fired plant is funded in part by a $120 million loan.

Landslide crashes into Philippine mining village; 15 buried miners saved

Rescuers and heavy equipment are picking through the debris in hopes of finding more survivors after a landslide thundered down a mountainside in the Philippines on Good Friday. The avalanche of mud hit the mining village of Panganason around 2:30 am Friday morning, according to a story posted on Inquirer.net.

Clad in orange suits, the rescuers sifted through the rubble in the hope of adding more survivors—15 so far—plucked from the mud and rocks. But 21 people remained unaccounted for, according to Maj. Jake Obligado, commanding officer of the 71st Infantry Battalion.

Mining ban review underway in Phillipine province

The company behind a large copper-gold mining project in the Phillipine province of South Cotabato is cautiously optimistic that a mining ban imposed last year will be overturned. GMA News reports:

A large-scale mining company on Sunday expressed optimism that the South Cotabato provincial government will lift its ban on open-pit mining and allow the $5.2-billion Tampakan copper-gold project to proceed by 2012.

Sagittarius Mines, Inc. (SMI) made the statement as its petition to withdraw the ban – which former South Cotabato governor Daisy Fuentes imposed last year – has moved up to the provincial council’s final review.

The current governor of South Cotabato, Arthur Pingoy, told Reuters last week that a review of the ban is possible, but with a slim chance it would be overturned.