Zijin Mining Group Co Ltd today announced its intention to make a takeover offer for Indophil Resources NL, a funding shareholder of Sagittarius Mines, Inc (SMI).
If the acquisition is successful, Zijin Mining Group would hold a 37.5% interest in SMI’s Tampakan copper-gold project in the southern Philippines.
Xstrata Copper, which holds a 62.5% controlling interest in SMI, today lent its support to the proposed takeover offer by announcing an agreement with Zijin Mining Group in respect of its 19.9% stake in Indophil, subject to certain conditions.
SMI President, Peter Forrestal said that SMI would welcome the introduction of a party, such as Zijin Mining Group, that has the capacity to support the advancement of the Tampakan Project.
“The Zijin Mining Group is a well established international mining company with a focus on the exploration and development of gold and base metals.
“Their interest in Indophil demonstrates the potential of the Tampakan Project which is one of the largest undeveloped copper-gold deposits in South East Asia.
“We remain focused on completing the Tampakan Project Feasibility Study in the first half of 2010 and finalising specialist studies and stakeholder engagement activities for the EIA in the second half of next year,” he said.
Monday, November 30, 2009
Thursday, November 19, 2009
SAGITTARIUS MINES RECEIVES HIGHEST AWARD FOR ITS INDUSTRY LEADING PRACTICES IN TAMPAKAN
Sagittarius Mines, Inc. (SMI) has been awarded the Presidential Mining Industry Environmental Award (PMIEA) by the Philippine Mine Safety and Environment Association (PMSEA) at the 56th Annual National Mine Safety and Environment Conference held in Baguio City on 14 November.
SMI General Manager Mark Williams said that the PMIEA recognizes excellence in the mining sector relating to the environment, safety and health management, as well as community development.
“We are honored to receive this award. This confirms our continuing commitment to employ the best available technologies and practices in safety, environment, community development, and stakeholder engagement,” said SMI General Manager Mark Williams.
SMI had an overall rating of 98%. SMI received a perfect score for its Social Development and Management Program (SDMP), as did the Information, Education, Communication (IEC) program. Environmental Management also scored highly with 39% out of 40%, while the Safety and Health program received 19% out of the allocated 20% weighting.
This is the third time for the company to be a PMIEA recipient. In 2004 and 2006, the PMIEA selection committee also recognized SMI’s performance in the conduct of its mineral exploration activities.
“While we ensure compliance with the legislative requirements, we also hold fast to the stringent expectation of our major shareholder, Xstrata, and the communities in which we operate, in all aspects of our operation,” said Mr. Williams.
SPECIAL FORESTRY AWARD
SMI also received second runner up in the Best Mining Forest Program as recognition of its forest development initiatives involving volunteers from the host communities. Special forestry awards were also given to SMI in 2006 and 2008.
Since the company launched the Maleh Tu Kayu (Blaan for ‘let us plant trees’) reforestation program in 2005, SMI together with its partners and volunteers from the community have planted and distributed over 300,000 tree seedlings.
“SMI is committed to advancing the Tampakan project in line with leading environmental and industry best practices and in partnership with our stakeholders.”
“I would like to thank the host communities and our stakeholders for supporting our various programs and initiatives and making it possible for us to win these two awards,” said Mr.
Williams.
SMI General Manager Mark Williams said that the PMIEA recognizes excellence in the mining sector relating to the environment, safety and health management, as well as community development.
“We are honored to receive this award. This confirms our continuing commitment to employ the best available technologies and practices in safety, environment, community development, and stakeholder engagement,” said SMI General Manager Mark Williams.
SMI had an overall rating of 98%. SMI received a perfect score for its Social Development and Management Program (SDMP), as did the Information, Education, Communication (IEC) program. Environmental Management also scored highly with 39% out of 40%, while the Safety and Health program received 19% out of the allocated 20% weighting.
This is the third time for the company to be a PMIEA recipient. In 2004 and 2006, the PMIEA selection committee also recognized SMI’s performance in the conduct of its mineral exploration activities.
“While we ensure compliance with the legislative requirements, we also hold fast to the stringent expectation of our major shareholder, Xstrata, and the communities in which we operate, in all aspects of our operation,” said Mr. Williams.
SPECIAL FORESTRY AWARD
SMI also received second runner up in the Best Mining Forest Program as recognition of its forest development initiatives involving volunteers from the host communities. Special forestry awards were also given to SMI in 2006 and 2008.
Since the company launched the Maleh Tu Kayu (Blaan for ‘let us plant trees’) reforestation program in 2005, SMI together with its partners and volunteers from the community have planted and distributed over 300,000 tree seedlings.
“SMI is committed to advancing the Tampakan project in line with leading environmental and industry best practices and in partnership with our stakeholders.”
“I would like to thank the host communities and our stakeholders for supporting our various programs and initiatives and making it possible for us to win these two awards,” said Mr.
Williams.
Monday, November 9, 2009
Mining firm team up for the environment with local TV station
Sagittarius Mines, Inc. continues its advocacy to greening the environment by supporting various tree-planting activities within and surrounding its Tampakan project area.
In the 13th anniversary of ABS-CBN’s TV Patrol Socsksargen in Gen. Santos City, the TV station partnered with SMI and other volunteer groups in Gen. Santos City to pant trees along the Buayan River.
Around 120 volunteers including SMI and ABS-CBN employees, City Environment and Natural Resource Office (CENRO) representatives and student volunteers from RD foundation and AMA Computer Learning Center gathered to replant the barren Buayan riverbank. A total of 2,000 seedlings, five hundred (500) of which came from SMI’s seedling nursery, were planted.
“We would like to impress to our stakeholders our commitment in caring for the environment. We recognize the need to preserve our environment and so we are fully supportive of initiatives like this,” said Bella Lechonsito, SMI’s Stakeholder Engagement and Partnership Superintendent.
“This commitment is evident in our continuing efforts to initiate tree-planting and reforestation activities and supporting environment campaign activities in partnership with Local Government Units (LGUs) and Non-Government Organizations (NGOs),” said Jose Sebua, SMI’s Social and Environmental Superintendent.
SMI has been actively involved in various environment awareness and protection campaigns. Its reforestation program which was launched on 2005 has already planted and distributed over 250,000 seedlings in the project area and neighboring communities.
Currently, the company is embarking on a robust forest rehabilitation and management program within and surrounding its proposed final area in the Tampakan project. University of Queensland and Leyte State University is helping SMI in the program which involves baseline studies of the remaining forests, massive tree-planting, and forest management.
In the 13th anniversary of ABS-CBN’s TV Patrol Socsksargen in Gen. Santos City, the TV station partnered with SMI and other volunteer groups in Gen. Santos City to pant trees along the Buayan River.
Around 120 volunteers including SMI and ABS-CBN employees, City Environment and Natural Resource Office (CENRO) representatives and student volunteers from RD foundation and AMA Computer Learning Center gathered to replant the barren Buayan riverbank. A total of 2,000 seedlings, five hundred (500) of which came from SMI’s seedling nursery, were planted.
“We would like to impress to our stakeholders our commitment in caring for the environment. We recognize the need to preserve our environment and so we are fully supportive of initiatives like this,” said Bella Lechonsito, SMI’s Stakeholder Engagement and Partnership Superintendent.
“This commitment is evident in our continuing efforts to initiate tree-planting and reforestation activities and supporting environment campaign activities in partnership with Local Government Units (LGUs) and Non-Government Organizations (NGOs),” said Jose Sebua, SMI’s Social and Environmental Superintendent.
SMI has been actively involved in various environment awareness and protection campaigns. Its reforestation program which was launched on 2005 has already planted and distributed over 250,000 seedlings in the project area and neighboring communities.
Currently, the company is embarking on a robust forest rehabilitation and management program within and surrounding its proposed final area in the Tampakan project. University of Queensland and Leyte State University is helping SMI in the program which involves baseline studies of the remaining forests, massive tree-planting, and forest management.
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