Tampakan, considered The Philippines' biggest untapped copper-gold reserve, was stalled for over a decade but saw a glimpse of hope in May.
for Sagittarius Mines to reopen the $5.9 billion project, in which commodities giant Glencore used to have a controlling stake, but abandoned it amid regulatory uncertainties.the permit had been revoked due the company’s “fraud, erroneous classification and misrepresentation of its business status.”The asset, which has estimated resources of 15 million tonnes of copper and 17.
Tampakan was expected to have an average annual production capacity of 375,000 tonnes of copper and 360,000 ounces of gold in concentrate.
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