BHP Billiton, RP partner to settle Davao mine dispute
09/16/2009 | 09:43 PM
BHP Billiton, the world’s biggest miner, and its Philippine partner will meet in Singapore next week to settle a dispute covering a Davao nickel mine, one of the country’s biggest mining projects.
Initial talks will be conducted between representatives of BHP Billiton, Asiaticus Management Corp. (Amcor), and Environment Secretary Joselito Atienza, Mines and Geosciences Bureau director Horacio Ramos told reporters at the Mining Philippines 2009 conference.
The meeting is considered a breakthrough after talks fell through and both parties filed cases against each other regarding the Pujada Nickel Project in Davao.
Amcor, the Philippine partner, intends to resolve issues with BHP Billiton since it remains interested in pursuing the project.
Both parties are required to fulfill provisions of a contract they entered into with the government.
The dispute between both parties began with a misunderstanding that prompted an arbitration case filed in Singapore. Separate cases involving the issue have also been filed at the Philippines’ Court of Appeals and the Mines and Geosciences Bureau.
Besides having acquired all seven original Mineral Production and Sharing Agreements from its previous owner, Asiaticus also owns 60 percent of the nickel project.
In the meantime, BHP won its case filed before the Singapore Court.
Investments in the Pujada Nickel project is expected to reach $1.5 billion. - GMANews.TV
Initial talks will be conducted between representatives of BHP Billiton, Asiaticus Management Corp. (Amcor), and Environment Secretary Joselito Atienza, Mines and Geosciences Bureau director Horacio Ramos told reporters at the Mining Philippines 2009 conference.
The meeting is considered a breakthrough after talks fell through and both parties filed cases against each other regarding the Pujada Nickel Project in Davao.
Amcor, the Philippine partner, intends to resolve issues with BHP Billiton since it remains interested in pursuing the project.
Both parties are required to fulfill provisions of a contract they entered into with the government.
The dispute between both parties began with a misunderstanding that prompted an arbitration case filed in Singapore. Separate cases involving the issue have also been filed at the Philippines’ Court of Appeals and the Mines and Geosciences Bureau.
Besides having acquired all seven original Mineral Production and Sharing Agreements from its previous owner, Asiaticus also owns 60 percent of the nickel project.
In the meantime, BHP won its case filed before the Singapore Court.
Investments in the Pujada Nickel project is expected to reach $1.5 billion. - GMANews.TV
