Wednesday, July 02, 2008 2 mining firms settling dispute: Mines bureau By Carlo P. Mallo
TWO mining giants -- the Filipino-owned Asiaticus Mining Corporation (Amcor) and the Australian-owned BHP Billiton -- are trying to settle the row between them, a top official of the Mines and Geosciences Bureau (MGB) said.
Regional Technical Director Ed Arreza of MGB-Southern Mindanao said officials of Amcor and BHP Billiton were in Singapore last week to "amicably" settle their disputes.
"They are trying to settle things amicably," Arreza said.
The two mining firms were reported to have been in dispute for the past months after Amcor filed for a rescission of its contract with the Australian-owned mining firm last year.
Amcor said Billiton failed to comply with its "reciprocal obligations" as stated in the joint venture agreement, thus the rescission.
Billiton later contested this in a Makati Regional Trial Court (RTC), which issued an injunction order barring its officials and employees from entering the Pujada Properties of Amcor in Mati and preventing the same from representing themselves as still part of the joint venture agreement with Amcor.
It was also reported that Billiton has filed a petition for certiorari before the Court of Appeals (CA) regarding the Makati RTC's issuance of an injunction order.
The CA "held in abeyance" Billiton's prayer for the issuance of a temporary restraining order.
The Pujada Nickel Mining project is touted to be one of the biggest mining projects under the Arroyo administration. Projected investment of BHP Billiton is pegged at $1.5 billion.
