Xstrata $60 Billion Philippine Mine May Stall at Church Door
This article is for subscribers only.
Xstrata Plc, the world’s fourth-biggest copper producer, risks missing a 2016 target to begin extracting about $60 billion of minerals from its project in the Philippines because of opposition from the Catholic Church.
The central government in January rejected the company’s request for an environmental compliance certificate for the $5.9 billion Tampakan copper and gold project, citing a ban by regional lawmakers on open-pit mining. With local polls due next year, South Cotabato legislators are reluctant to amend the law because they risk the ire of the Church, said Arthur Pingoy, the region’s governor.