Xstrata Denied Environmental Clearance for Tampakan Mine
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Xstrata Plc and Indophil Resources NL’s Philippine venture said it was denied environmental clearance for the $5.9 billion Tampakan project was denied, potentially slowing development of the largest untapped gold and copper deposit in Southeast Asia.
Sagittarius Mines Inc. can resubmit the application after an open pit mining ban by a provincial government is resolved, Indophil said in a statement to the Australian stock exchange today.