Daily Metal Market News & Metal Prices
 
Daily Metal Prices & Market News
Friday 03rd of September 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  US pending home sales data helps copper prices

Latest News  Positive data chases gold prices lower

Latest News  Gold gains on search for safetey ahead of economic data

Latest News  Gold gains as US dollar weakens

Latest News  Gold prices fall on US jobs news

Latest News  US durable goods orders, new home sales drive metals price moves

Latest News  Gold gains, copper drops on US home sales data

Latest News  Copper prices fall on economic, demand concerns

Latest News  US unemployment numbers hurt copper prices

Latest News  Copper prices gain on more inventory declines


Previous: «
Next: »

Visited 2310 times, 1 so far today

Gold ($/troy ounce):

Silver ($/troy ounce):

Platinum ($/troy ounce):