Philippines removes final obstacle for $5.9 billion Tampakan copper-gold project
2022-05-18 13:59:22 [Print]
Philippines' South Cotabato provincial government has agreed to amend its environmental law, paving the way for the development of the Tampakan copper-gold project.
The amendment overturns the 12-year-old ban on open-pit mining, thus eliminating the final regulatory constraint for the long-delayed Tampakan project, which is said to be one of the largest undeveloped copper-gold deposits in the world.
The project was previously estimated to cost $5.9 billion for development before it faced setbacks following the provincial ban on open-pit mining operations imposed in 2010.
The Tampakan mine is expected to produce 375,000t of copper and 360,000oz of gold in concentrate annually.
The amendment overturns the 12-year-old ban on open-pit mining, thus eliminating the final regulatory constraint for the long-delayed Tampakan project, which is said to be one of the largest undeveloped copper-gold deposits in the world.
The project was previously estimated to cost $5.9 billion for development before it faced setbacks following the provincial ban on open-pit mining operations imposed in 2010.
The Tampakan mine is expected to produce 375,000t of copper and 360,000oz of gold in concentrate annually.
Copper Rod TC Ф8mm EXW China
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China copper concentrate producers' sales volume statistics by province by month
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