Oil companies called insensitive and lack of compassion for hiking fuel prices at this time
Leaders of the House of Representatives on Tuesday blasted giant oil companies Petron and Shell for their “insensitivity and lack of compassion” in jacking up pump prices while the country has yet to recover from Tropical Storms “Ondoy” and “Pepeng.”
“This is really infuriating. While people around the world are trying their best to help us recover from the devastation caused by Ondoy and Pepeng, our own oil companies have the nerve to increase their prices. This is the highest point of ingratitude,” said Speaker Prospero Nograles. Read more
Zijin Mining Considers Filipino Copper and Gold Ventures
China-based gold company Zijin Mining says it is considering a $1bn investment in copper and gold ventures in the Philippines over the next five years.
Zijin signed a memorandum of understanding with the Philippine’s Government to indicate its intention to invest in mining ventures in the country, writes Reuters.
Environment and mining secretary Jose Atienza said that the MOU clearly indicates Zijin’s keenness to make an investment in the country.
Zijin has initially teamed up with local mining company NiHAO Mineral Resources International. Read more
Reyes vows aggressive monitoring of The prices petroleum products
SECRETARY Angelo T. Reyes vowed yesterday that the Department of Energy will unrelentingly and aggresively monitor the prices of petroleum products petroleum productsin the country to ensure that Filipino consumers get fair and just pricing for gasoline, diesel and liquefied petroleum gas .
Reyes said that his department is constantly on the guard against any predatory or cartelized pricing by anyone or any group.
Reyes pointed out that what the DOE is monitoring is the reasonableness of prices of gasoline, diesel and LPG as set by oil dealers for the compliance of their dealers. Read more
Medusa Mining says latest drilling at Lingig prospect extends mineralisation
Medusa Mining this morning reported that further drilling has continued to locate copper mineralisation at potentially economic grades within a very large copper-anomalous envelope near to its existing Co-O mine in the Philippines.
Drilling on the Lingig prospect, which lies to the north and east of the Co-O mine and millsite, has uncovered mineralisation in two distinct geological settings, including thrust-hosted mineralisation and porphyry associated mineralisation. Read more
First Asian Project Completed in Taiwan in 1989
SINGAPORE- The international engineering company, M+W Zander celebrates its 20th anniversary in Asia at an event with customers, partners and staff. In 1989 M+W Zander had successfully completed its first large project in Asia, the construction of a semiconductor plant in Taiwan, and handed it over to the customer TSMC. In 2009 the group now has a presence in Asia and employs a workforce of some 2,000 in 9 countries with virtually half of the Group’s turnover being achieved there. In contrast with the early days, the customers come from many high-tech sectors. Read more
Crew Gold Corporation Announces an Agreement to Sell Its Philippines Interest
LONDON, UNITED KINGDOM–(Marketwire – Sept. 17, 2009) – Crew Gold Corporation announces that it has signed an agreement to sell its interest in Apex Mining Company Inc and all other related assets in the Philippines to a private company with headquarters in Malaysia. The agreement is subject to certain regulatory approvals and is expected to be completed within approximately 90 days. The agreement calls for a total cash payments of $1 million upon signing of the agreement, $5 million upon completion, and a final $1 million when Philippine regulatory approvals are obtained.
Interim CEO Bill LeClair commented “combined with the previously announced sale of Nalunaq and the pending completion of the sale of Nugget Pond, this allows Crew’s scaled down management team to concentrate all efforts on the LEFA project which is expected to complete its ramp up by approximately the end of Q4.” Read more
