Sunday, May 30, 2010

Freeport considering $5B investment in Philippines gold mine

Business World is reporting that Phoenix-based Freeport McMoRan Copper and Gold is ready to invest $5 billion in the Siana gold mining project in the Philippines. They quote the Mines & Geosciences director who said he met with Freeport's VP of Exploration David Potter.

Siana is run by Australian mining company Red 5 Ltd and is expected to start production in 2011.

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