Business stories
Several firms watching Billiton mining dispute

Several mining companies, including Xstrata, have expressed interest to fill the void to be left by mining giant BHP Billiton if talks with local partner Asiaticus Management Corp fizzle out.

?We?ve have a few offers that we already turned down. We cannot accommodate any other company since the Singapore Arbitration Court already ruled that our contract with BHP is valid. We are willing to work out our contract with them,? Amcor president and chief executive Peter Tan told Standard Today.

Tan said the company company does not want to exacerbate issues, adding that BHP is a big company and should be protective of their reputation.

BHP sought international arbitration after Amcor sought to end an agreement to jointly develop a mine in Davao City. Amcor won its case at a local court. The case is now pending with the Court of Appeals.

Leo Jasareno of the Mines and Geosciences Bureau said the decision of the Singapore court upholding the contract of BHP with Amcor was legal and binding.

?There is a specific clause in the minerals production and sharing agreement that stipulates that a local dispute may be brought to international courts and the decision will be sustained by the national government,? he said. Othel V. Campos

 

Thursday, February 12, 2009
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