TVI Pacific Inc (TVIPF)

[the cork]

Canada's TVI: Philippine govt needs to act on mine ban
MANILA | Fri Dec 2, 2011 4:18am EST

Dec 2 (Reuters) - The chairman of Canada's TVI Pacific Inc said on Friday decisive action was needed from the Philippine government to overturn local mining bans on approved projects, which he warned could spread to other mineral-rich provinces.

An ordinance by the Zamboanga del Norte province requires TVI to close its Canatuan open-pit mine, a $60 million project that produces copper and zinc concentrates, within one year.

Clifford James told industry forum in Manila he hoped a local court would uphold a petition by TVI's local unit, TVI Resource Development (Phils) Inc, to stop the implementation by the ban, which took effect last month.

"What we're doing right now is the first step of a long process," said James, who is also president and chief executive of TVI Pacific.

"The first step is to file for a TRO (temporary restraining order) or injunction, and we're hopeful that before the end of the year we'll end up with a positive solution."

"The Canadian ambassador has indicated that he is going to take this matter up with the Philippine government," he said.

A similar ban in South Cotabato, also in the southern Philippines, has threatened the $5.9 billion Tampakan copper-gold project of global miner Xstrata Plc and Indophil Resources NL.

James warned of a "domino effect" of such bans and called on the Department of Environment and Natural Resources to intervene to overturn the bans.

http://www.reuters.com/article/2011/12/02/philippines-mining-tvi-idUSL4E7N21B320111202