First posted 01:45am (Mla time) July 13, 2006
Inquirer
http://news.inq7.net/archive_article/index.php?ver=1&index=1&story_id=9518
AFTER suspending its copper operations for about five years, Lepanto Consolidated Mining Co. plans to reopening its copper mine in Mankayan town in the northern province of Benguet by September in view of the rising metal prices in the world market, company chairman Felipe Yap said.
Copper prices have surged to a high of $3 a pound in the international market this year, from a low of 70 cents in 2001 that had made it difficult for Lepanto to continue operating the Mankayan mine, Yap said.
Lepanto, incorporated in 1936, operated an enargite copper mine until 1997, when it shifted to gold production through its Victoria Project in Benguet.
It operated a copper flotation plant from August 2000 to December 2001, when copper operations were suspended.
Lepanto sells its gold to Johnson Matthey and Heraeus Ltd. in Hong Kong.
Its copper concentrates were sold through metals trading firms Trafigura Beheer in Switzerland and Centrotrade Minerals and Metals in Canada.
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