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    As early as last year, DMCI president Isidro Consunji already hinted of the possibility of suspending the nickel project because of unfavorable metal prices. So far, the joint venture partners have shipped 350,000 tons of nickel to China, earning $10 million. The amount was way below the $300 million invested by DMCI in the mining project.

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    Mineral-rich countries in Africa enjoyed a mining boom between 2002 and 2007 as metal and oil prices nearly tripled. Companies competed furiously for new mines to meet growing world demand.

  • Barrick takes Porgera to World Bank - PNG Report

    BARRICK Niugini is going to the World Bank’s International Centre for Settlement of Investment Disputes to try to resolve the battle with the government over Porgera gold mine that resulted in the mine going on care and maintenance.

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