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Two mining companies in dispute over the Pujada nickel mine in Southern Mindanao in the Philippines.
BHP, the world's biggest miner, has been in disagreement with its local partner Asiaticus Management Corp over when to start commercial production at the Pujada nickel site in the southern Mindanao region, a debate that has reached the courts.
The Philippine group has accused the Anglo-Australian miner of moving too slowly in developing Pujada, estimated to have 200 million tonnes of nickel ore reserves with 1.3% nickel. Asiaticus had cancelled its joint venture agreement with BHP due to the dispute. In May 2008, the local firm obtained a ruling from a Philippine court barring BHP from the Pujada site, prompting the foreign miner to halt exploration activities.
"It is an option for one of them to buy the other out," Lito Atienza, the minister in charge of the mining sector, told Reuters in a telephone interview.
BHP could buy out Asiaticus' 60% stake in the project or Asiaticus, controlled by Filipino businessman Peter Tan, could purchase BHP's 40% interest, said Atienza.
But the first option is for both companies to resolve their disagreement. "Both should come on the table with clear and clean intentions, that's what I'm asking from them," said Atienza.
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