The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Monday, 22nd September 2008 (1030 views)

General Resources has joined forces with local investors in Sultan Kudarat, a region of the Philippines, to conduct gold exploration in the area.

An approved mineral production sharing agreement has been issued to the firms involved for a 4,500-hectare area.

More than PHP100 million (£1,174,034) is expected to be invested into the project, some of which will be used to develop a processing plant and to ship metals to Korea.

Operations manager Rudolf Lopez said that the partnership is receiving local government support because "it is the only foreign investor in the province".

A meeting is due to be held between stakeholders in September in order to discuss the environmental issues of the programme.

Meanwhile, it was recently revealed that General Electric and Rio Tinto have collaborated to develop environmentally-friendly mining solutions.

Rio Tinto's chief executive Tom Albanese said that the firms "share the same values with respect to energy conservation and care for the environment".

 

« Back to Gold News stories