Indophil seeks new buyer for Tampakan copper-gold project
INDOPHIL Resources is seeking a buyer for its stake in the Tampakan copper-gold project in the Philippines after China’s Zijin Mining Group abandoned a takeover bid for the company. There has been speculation that Swiss-based, London-listed miner Xstrata, which owns the remaining 62.5 per cent stake in Tampakan and in 2008 tried unsuccessfully to take over Indophil, may be interested in purchasing Indophil’s stake in the joint venture.