Delayed Tampakan copper-gold mine project budget cut by Sagittarius

MANILA – Sagittarius Mines Inc, majority owned by AngloSwiss multinational commodity trading and mining company Glencore Xstrata Plc, is planning to eliminate 920 jobs and cut the budget for its delayed $5.9-billion Tampakan copper-gold mine project in southern Philippines due to uncertainties about the start of production by 2019. Sagittarius, which is 62.5%-owned by Glencore Xstrata, said …

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