Sagittarius Seeks Partner for Philippines’ Largest Copper-Gold Mine

Tampakan Copper-Gold Project: Seeking New Partnership

Sagittarius Mines is searching for a strategic partner to advance the Tampakan copper-gold project in the Philippines. Located in South Cotabato on Mindanao, the mine has faced challenges for over 30 years. Despite setbacks, Sagittarius is optimistic about moving the project forward with modern technology.

Initially set for 2026, the project now expects production to start by 2028. Once operational, Tampakan aims to produce 375,000 tonnes of copper and 360,000 ounces of gold annually for 17 years. This could make it the Philippines’ largest copper-gold mine, boosting both local and global markets.

Regulatory Challenges and Chinese Interest

The project has encountered multiple regulatory and political hurdles. Glencore withdrew in 2015 due to a nationwide open-pit mining ban, which was lifted in 2021. Since then, Chinese companies, including Aluminum Corp. of China (Chinalco), have shown interest in the project. Chinalco, China’s largest aluminium producer, seeks copper for its raw material needs. However, tensions between China and the Philippines over the South China Sea have complicated discussions.

Strategic Importance for the Global Commodities Market

Tampakan holds significant strategic value for both the Philippines and global markets. Copper is essential for industries like electronics and renewable energy, while gold remains a key industrial and economic asset. The Philippines, along with Indonesia, plays a vital role in supplying minerals to China. The success of Tampakan could enhance the Philippines’ mining sector, allowing it to process and export valuable metals like copper and gold.

SuperMetalPrice Commentary:

The Tampakan copper-gold project could transform the Philippines’ mining industry. Despite regulatory and geopolitical challenges, renewed international interest suggests production could begin soon. The project’s development will be crucial for global copper and gold supply chains, especially as demand for these metals grows. Key factors like technology and political stability will determine its future success.
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Sagittarius Mines seeks a strategic partner to advance the delayed Tampakan copper-gold project, set to be the Philippines’ largest mine.