Wednesday, July 18, 2007 Sagittarius Mines cited for development initiatives By Aquiles Zonio
A MINING firm exploring copper and gold deposits in the tri-boundary of the provinces of South Cotabato, Sultan Kudarat and Davao Del Sur was cited for its environmental management and sustainable development initiatives.
The citation "Outstanding Achievement in Environment and Natural Resources" was given by the Department of Environment and Natural Resources (DENR) in Southwestern Mindanao to the Sagittarius Mines, Inc. (SMI).
Jim Sampulna, DENR Southwestern regional director, said SMI deserves recognition for its "exceptional contribution to the advancement, management, advocacy, conservation, preservation and development of the environment and natural resources in Region 12 (Southwestern Mindanao)."
Peter Forrestal, SMI chairman, said the recognition would further encourage the company more in protecting and conserving ecology while conducting mining operation in the area.
"SMI is committed to adopting best practices in caring for and minimizing impact to the natural environment, and we have directed considerable effort toward environmental management as well as developing close working relationships with local communities and indigenous groups," Forrestal stressed.
Even at the extended pre-feasibility stage, SMI's Tampakan Copper and Gold Project have been receiving various citations for adopting and carrying out responsible mining practices.
In December 2006, SMI copped the prestigious Presidential Mining Industry Environmental Award, the highest award given to a mining company by the Philippine Mine Safety and Environment Association.
SMI is now managed by Xstrata, a major global diversified mining group listed on the London and Zurich stock exchanges.
The group's operations and projects cover 18 countries worldwide - Argentina, Australia, Brazil, Canada, Chile, Colombia, the Dominican Republic, Germany, New Caledonia, Norway, Papua New Guinea, Peru, the Philippines, South Africa, Spain, Tanzania, the USA and the UK.
It employs about approximately 43,000 people, including contractors.
The Tampakan deposit is considered as one of the largest undeveloped copper-gold deposits in the South East Asia-western Pacific Region.
The PFS confirmed that resources of 2 billion tones containing 11.6 million tones of copper and 14.6 million ounces of gold at a 0.3 percent copper cut-off grade.
