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Friday, 26th January 2007 (3778 views)

Anglo American has jumped on the Philippine bandwagon, becoming the latest in a string of exploration companies to seek permits to search for gold in the island nation.

A source told Reuters that the company, which has a joint venture with local firm Philex Mining in the Boyongan copper project in the southern Philippines, was hoping to explore several more areas in the country.

The source said it was in joint venture talks with Manila Mining to explore the Bayugo copper-gold property, which lies adjacent to the Boyongan project.

Environment and Natural Resources Secretary Angelo Reyes confirmed that the Philippine government has issued a permit allowing Anglo American and Manila Mining to explore for gold and copper in the country.

"Together, Bayugo and Boyungan would make another world-class gold-copper project that should further firm up the Philippines' place in the world mining map," he said.

Mr Reyes also said that three other global mining companies have expressed interest in acquiring permits to explore in the Philippines.

 

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