Daily Metal Market News & Metal Prices
 
Daily Metal Prices & Market News
Wednesday 17th of March 2010
Wednesday, February 6, 2008

Gold plant attacked by Philippine paramilitaries

Gold plant attacked by Philippine paramilitaries

In the early hours of Wednesday, the paramilitary wing of the Communist Party of the Philippines (CPP) attacked a gold processing plant in the southern Philippines.

The incident involved seven members of the New People’s Army (NPA) and cost the lives of two security guards who were on duty at the plant, operated by JB Mining and Management.

JB Mining is a local Phillipine company and while the NPA is most strongly opposed to foreign miners it has also been known to attack domestic companies.

The “army” usually focuses on the destruction of property, although mining company employees have sustained injuries in previous raids.

In January, it attacked Sagittarius Mines’ Tampakan copper/gold project located on Mindanao.

Sagittarius is a subsidiary of Xstrata and the raid, which caused fire damage to buildings, was accompanied by a CPP statement accusing the Government of the Philippines of allowing foreign 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 Philippine government is continuing its efforts to attract foreign investment to its mineral sector and has offered to work with mining firms to help improve security.

 

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: Gold plant attacked by Philippine paramilitaries

Philippine paramilitaries attack Xstrata mine ...

Philippine mine in jeopardy as Lafayette enters administration ...

OceanaGold seeks partners for troubled Philippine project ...

FLSmidth wins order for minerals plant ...

Kinross opens Russian gold processing plant ...

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 2173 times, 1 so far today

Gold ($/troy ounce):

Silver ($/troy ounce):

Platinum ($/troy ounce):