Manila Mining eyes joint venture deal on copper-gold mine
MANILA Mining Corp is in talks for a joint venture with Nasdaq-listed Anglo American Plc to develop the latter’s Bayugo copper-gold prospect in southern Philippines.
Bayugo is adjacent to the Boyongan copper and gold deposits in Surigao del
Norte, which were discovered in 2000 by a joint venture between Philex Gold and Anglo American Exploration (Philippines) BV.
In a statement to the stock exchange, Manila Mining said the proposed joint venture with Anglo American covers about 285 hectares, with an exploration budget of $20 million for the pre-feasibility phase.
