Solon calls on nat’l, local gov’ts not to give in to pressure by Xstrata-SMI mining firm By Charlie V. Manalo 09/04/2011

Solon calls on nat’l, local gov’ts not to give in to pressure by Xstrata-SMI mining firm

By Charlie V. Manalo 09/04/2011

Bayan Muna Rep. Teddy Casiño yesterday called on the national government and the local government units of Sultan Kudarat, South Cotabato, Davao del Sur and Sarangani provinces to “play it safe and long-term by not giving in to pressure” with regard to the aggressive ramp-up of Xstrata-SMI activities in its drive to mine gold and copper deposits by 2016.

“There is nothing good with an uncertain future beyond the various statements of the Xstrata-SMI that the $5.9-billion direct investment into the Tampakan mine project will bring development and growth to the area. It is a question development and growth for whom? That project will not mean industries will be put up in the country since they will just extract the mineral wealth and sell it to the international market. This is a project that has caused divisions among families and tribes in the quadri-boundary project area,” Casiño said.

Xstrata Copper, the world’s fourth largest copper producer, exercises management supervision at the Tampakan project through its 62.5 percent controlling equity in Sagittarius Mines Inc., with Australian firm Indophil Resources NL as the junior partner...... MORE

Source:  The Daily Tribune

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