Rebels Attack Tampakan Mine to "Punish" Xstrata

Communist rebels who attacked a copper mine in the Philippines yesterday say they wanted to "punish" the Swiss-based majority owner Xstrata and safeguard the rights of local tribes, writes news agency Reuters.

About 30-40 armed men belonging to the Communist New People's Army (NPA) raided the Tampakan mine in the Southern Philippines yesterday morning and burned six buildings, according to local police.

Officials at the mine said the attack would not affect a pre-feasibility study scheduled for completion in the second half of 2009.

Tampakan is one of the biggest undeveloped copper resources in South East Asia with total resources estimated at 12.8 million tonnes of contained copper and 15.2 million ounces of contained gold.

The mine is 62.5 percent owned by Xstrata and 34 percent by Australia's Indophil Resources.

By staff writer