While we wait for the MGA confirmation it may be useful to know that out Itogon gold play is in good company as per this report ;
In 2013, investment in mining totaled $1.311 billion, surpassing that year’s target of $817.58 million by more than 60 percent, MGB Director Leo Jasareno said over the weekend.
“It is also significantly higher than the $812.5 million recorded in 2012,” Jasareno said in a telephone interview. The bureau forecasts that investment in the sector will rise further to $1.324 billion in 2014, then start easing to $1.2382 billion in 2015 before plunging to half the 2014 level to $659.7 million in 2016.
Explaining the expected increase in investment in 2013 to 2014, Jasareno highlighted the continuing capital expenditures by major mining groups in their local existing projects – including Japan’s Sumitomo Metal Mining Co. Ltd. (SMM) HPAL project, the Sagittarius Mines Inc.’s $5.9-billion Tampakan copper-gold project, Philex Mining Corp’s Silangan project, Lepanto Consolidated Mining Co.’s Far Southeast Project in Benguet, and Toronto-listed St. Augustine Gold and Copper Ltd.’s $2-billion King-king copper-gold project in Mindanao.
Also contributing to the robust mining sector growth were new mining ventures such as the TVI Resource Development (Phils.) Inc.’s Agata nickel project in Agusan del Norte, Jasareno said.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.