Risks, Red Tape Delay Xstrata's $6B Gold Mine In Philippines

Law360, New York (December 12, 2012, 7:11 PM EST) -- A unit of Anglo-Swiss miner Xstrata PLC said Wednesday its $5.9 billion gold and copper mine in the Philippines won't come online until 2019, three years behind schedule, after permitting delays and a wave of violence that's killed at least five workers in two years.

Sagittarius Mines Inc. said the Tampakan mine — the biggest infrastructure project ever planned for the archipelago nation — would not break ground until 2015, assuming it can even get permits it needs from state and local officials, who have so...
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