– A signage found in Tampakan, South Cotabato – The municipality of Tampakan has the biggest mining project known as the Tampakan project. The mine was jointly owned by Tampakan Mining and Southcot Mining (together 60%) and Indophil Resources (40%). Sagittarius Mines (SMI) was the developer of the project on behalf of its shareholders Xstrata Copper (now Glencore Xstrata) and Indophil Resources. The title to the deposit was held under a Financial and Technical Assistance Agreement (FTAA) with the Philippine government, which was agreed to take a pre-determined share of the project cash flow, on payment of the development capital. The mining area has 23,571-hectare (58,245-acre) site lies at the intersection of the provinces of South Cotabato, Sultan Kudarat, Sarangani and Davao del Sur. It holds an estimated 12.8 million metric tons of copper and 15.2 million ounces of gold, potentially yielding an average of 375,000 metric tons of copper and 360,000 ounces of gold in concentrate per year. SMI the company that holds the 25-year mining permit, estimates that it will take 70 years to excavate all the deposits in Tampakan. Once mining begins, it will become the largest copper mine in the Philippines; but as it stands idle, Tampakan remains the largest undeveloped copper-gold site in Southeast Asia and the Western Pacific. #Yaduing #mining #Tampakan #SouthCotabato #SMI #sustainabledevelopment #travelstories #travelphilippines #bnwdocumentary #bnw_globe #bnw_igers #bnwphotography #bnw_planet #bnw_of_our_world #miningtown (at Tampakan, South Cotabato, Philippines) https://www.instagram.com/p/CHSN83MnoW8/?igshid=b6i96aeopdnv
