Daily Metal Market News & Metal Prices
 
Daily Metal Prices & Market News
Wednesday 17th of March 2010
Monday, January 14, 2008

Philippine paramilitaries attack Xstrata mine

Philippine paramilitaries attack Xstrata mine

The Communist Party of the Philippines (CPP) has confirmed that the recent attack on Sagittarius Mines’ Tampakan copper/gold project located on Mindanao, was made by in the New People’s Army, the party’s paramilitary wing.

Sagittarius is a subsidiary of Xstrata and the raid focused on the destruction of buildings at the site.

The CPP’s website currently contains a statement saying that: “the raid … had the singular objective of punishing the giant Swiss mining firm for land grabbing, plunder and environmental destruction in response to a longstanding demand of the people to put a stop to the firm’s operations in the area.”

The attack was made during the Christmas holiday period, apparently to avoid civilian casualties, although security staff were involved and shots were fired.

Sagittarius Mines and Xstrata have denied that there is serious local opposition to the mine but the CPP says it will continue offensive operations against big foreign mining companies.

It is accusing the Government of the Philippines of allowing such companies to “siphon out billions of dollars worth of Philippine natural resources to the further detriment of the people’s livelihood and the environment.”

The Tampakan deposit represents the largest undeveloped copper-gold deposit in the South East Asia’s Western Pacific Region.

 

Add to Bookmarks:

ADD TO NETSCAPE     ADD TO DEL.ICIO.US     ADD TO DIGG     ADD TO FURL

ADD TO STUMBLEUPON     ADD TO YAHOO MYWEB     ADD TO GOOGLE     ADD TO SPURL


Related posts to: Philippine paramilitaries attack Xstrata mine

Gold plant attacked by Philippine paramilitaries ...

Philippine mine in jeopardy as Lafayette enters administration ...

OceanaGold seeks partners for troubled Philippine project ...

Xstrata expands Chilean copper mine ...

Vale takeover of Xstrata reaches impasse ...

Latest Metals News:

Latest News  Copper higher in London, New York

Latest News  Investor concerns send copper prices lower

Latest News  Copper, aluminium prices climb as other base metals fall

Latest News  Copper up in London; inventories fall, cancelled warrants rise

Latest News  Copper gains on US jobs data, China comments

Latest News  Copper up on weaker dollar

Latest News  Copper prices climb after Chile quake

Latest News  Metals prices mixed in New York, London

Latest News  Gold down slightly in NY on stronger dollar

Latest News  Copper prices up after last week’s declines


Previous: «
Next: »

Visited 2634 times, 1 so far today

Gold ($/troy ounce):

Silver ($/troy ounce):

Platinum ($/troy ounce):