Our History

1985 – 1990

During this period several mining claims were lodged with the Regional Office of the Philippines Mines and Geosciences Bureau in Davao for potential mining areas situated in the municipality of Tampakan. These claims were later assigned to the specific holders which included:   

  • Southcot Mining Corporation
  • Tampakan Mining Corporation  

These companies are collectively known as the Tampakan Group of Companies (TGC).

1990 – 1999

In November 1990, Western Mining Corporation (WMC), an Australian company, signed an Option Agreement with the TGC. In July 1994, WMC and the TGC entered into a consent agreement which allowed WMC to apply for a Financial and Technical Assistance Agreement (FTAA) with the Philippine Government in respect of certain mining claims.

The discovery of the Tampakan copper-gold deposit was announced by WMC in September 1994 and in March 1995 the FTAA was signed between WMC and the Philippine Government. In that same year, the Philippine Government passed the Mining Act of 1995.

In 1997, a case was filed in the Supreme Court questioning the constitutionality of the Philippine Mining Act of 1995 and its Implementing Rules and Regulations, as well as the validity of the FTAA signed between WMC and the Philippine Government. Both the Act and the FTAA were subsequently upheld by the Supreme Court in 2005.

2000 – 2006

In 2001, the Secretary of the Department of Environment and Natural Resources approved the transfer of the FTAA from WMC to Sagittarius Mines Inc., a company within the TGC.

In August 2002, Indophil Resources acquired an interest in the Project and commenced active exploration of the Project through SMI.

In June 2003, Xstrata Copper entered into an Option Agreement with Indophil which provided financial support for a Pre-Feasibility Study as well as an option to acquire management control of SMI.

2006 – 2008

On 21 December 2006, Xstrata Copper exercised its option to acquire 62.5% of the controlling equity interest (40%) in the Project. In March 2007 Xstrata assumed management of the Project and commenced an Extended Pre-Feasibility Study that was completed in December 2008.

2008 – 2012

Further detailed technical studies resulted in the completion of a Mining Project Feasibility Study that was submitted to the Philippine Government in April 2010.
In addition, SMI has completed its Environmental Impact Assessment for the proposed mining project and is currently progressing impact assessments for the proposed power station, transmission lines, port facilities, filter plant and concentrate pipeline that forms part of the Project’s requirements. SMI undertook extensive stakeholder engagement during 2011 regarding the findings of these assessments. The EIA became the basis for the submission of the Environmental Impact Statement (EIS) and application for the mine Environmental Compliance Certificate (ECC) on October 2011.

2013 – Present

In February 2013, the Government issued the mine ECC, and SMI signed the ECC in August 2013 subject to Philippine laws.

In May 2013 the merger between Xstrata Plc and Glencore Plc was finalized with Glencore assuming controlling equity interest of SMI and the management of the Tampakan Project.
In August 2013, the SMI Board approved a Revised Work Program (RWP) for the Tampakan Project.

Under its 2014 Work Plan SMI focused working with the National Government and other stakeholders in clearing a pathway for the Project to progress through a stage where Shareholders have the option to commit to a Final Investment Decision (FID) and the National Government is in a position to issue a Declaration of Mine Project Feasibility (DMPF).

SMI endeavored to achieve the objectives of its 2014 Work Plan through the Mining Industry Coordinating Council (MICC) and the Council’s Tampakan Project Inter-agency Working Group (IAWG).

For 2016, the key objective of SMI’s Work Plan is:

“to clearly define and agree with the National Government and other stakeholders a pathway for the Project to progress through to a stage where all necessary approvals are obtained, including the process to obtain access to Project land, thereby providing Shareholders with the option to commit to the additional work program required for a FID enabling the Project to proceed to the construction phase”.

Sagittarius Mines Incorporated