Monday, September 15, 2008 BHP Billiton will not back out of Mati mines By Carlo P. Mallo
AUSTRALIAN mining giant BHP Billiton has announced that it has no plans of pulling out from the multi-million Pujada Nickel Project in Mati City, Davao Oriental even as it continues to mire in a deadlock with its Filipino partner company, Asiaticus Mining Corporation (Amscor).
In a statement issued Friday, BHP Billiton said that it has "no intention of withdrawing from its nickel project in the City of Mati, Province of Davao Oriental."
BHP Billiton, based on its issued statement, is now amendable to study the proposal made by Amcor, which would enter the two companies in an ore supply agreement.
The agreement provides that the Filipino company will proceed with the extraction of Nickel while the foreign firm continues in its exploration of the area.
The two companies are locked in a rift right now with law suits being hurled against each other after Amcor decided to rescind its partnership with BHP Billiton as the latter has been delaying the mining exploration and operation in the Nickel deposit-rich-area.
The Australian mining firm, on the other hand, has maintained its position that it has not been delaying and that work has been on-track.
President Gloria Macapagal-Arroyo has invited the Australian mining firm to explore and exploit the Nickel deposits in the Pujada area in Mati City, Davao Oriental.
Department of Environment and Natural Resources (DENR) Secretary Lito Atienza has also been mediating between the two parties.
Pujada is believed to have no less than 150 million metric tons of nickel reserves underneath, believed to be one of the biggest in the country.
