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Xstrata unit wins environmental approval for $5.9 billion Philippine mine

Tue, 02/19/2013 - 12:25am
Reuters

MANILA (Reuters) - Global miner Xstrata Plc's $5.9 billion Tampakan mine in the Philippines has been granted an environmental compliance certificate by the government, the company said on Tuesday, removing one of the hurdles delaying work on Southeast Asia's biggest copper-gold prospect.

The Tampakan project, the Philippines' single largest foreign direct investment and seen as a bellwether for overseas investors, has been held up by a 2010 ban on open-pit mining imposed by the provincial government of South Cotabato because of its harmful effects on the environment.

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