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Sunday, December 18, 2005
Firm applies for mining permit
A LOCAL mining firm has applied for an exploration permit that will cover three towns in south-central Mindanao region, a government official confirmed Thursday.
Hernane Abdon, Mines and Geosciences Bureau mining records and licensing division chief for Soccsksargen Region, said the SouthCot Mining Corp is seeking to explore at least 3,217 hectares in the towns of Tampakan in South Cotabato, Malungon in Sarangani, and Kiblawan in Davao del Sur.
"The exploration permit application covers the area near the boundary where Sagittarius (Mines Inc.) is presently exploring," he said.
Sagittarius Mines is already in a pre-feasibility study stage for copper and gold deposits in the towns of Tampakan in South Cotabato, Columbio in Sultan Kudarat and Kiblawan in Davao del Sur.
Australian firm Indophil Resources NL owns a majority share of Sagittarius Mines, which holds the Tampakan Copper Gold Project.
A reliable Sagittarius insider, who requested anonymity, said Indophil would eventually undertake the exploration activities once SouthCot's permit is approved.
"Indophil and SouthCot have agreed to jointly undertake the venture. Sagittarius, however, is out of that picture despite Indophil's involvement in the existing Tampakan project," the source added.
The source confirmed that the area covered by SouthCot Mining's application is just near the place where Sagittarius is presently conducting exploration activities.
The area covered by SouthCot's application reportedly also has copper, gold and other mineral deposits.
(December 12, 2005 issue)
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