Regions

GENERAL SANTOS CITY—The government’s share in the proposed copper-and-gold project of Sagittarius Mines Inc. (SMI) in Tampakan, South Cotabato, would top the $7-billion mark, the company said in a presentation during a tour joined by the BusinessMirror recently.

The profit-sharing scheme is considered a world standard and would be on top of another $5.9 billion investment of the Xstrata-owned SMI.

THE Asian Development Bank (ADB) and the Government of Japan on Tuesday provided a $1.5-million grant to improve access to basic services and provide livelihood opportunities for nearly 6,000 families in the Southville 7 community of Laguna who survived displacement by fire and natural disasters, such as tropical storm Ondoy.

“We are pleased to give life to Southville 7. The community will now have basic facilities and more importantly, hope to rebuild their lives after tragic circumstances,” said Kunio Senga, Director General of ADB’s Southeast Asia Department in a statement.

SAUDI KING Abdullah bin Abdulaziz Al Saud through the Saudi Embassy in Manila donated 60 metric tons of desert grown dates to help address the growing of hunger incidents among displaced families in Mindanao, particularly the provinces of Maguindanao and Lanao del Sur.

The donation worth $84,000 to be given to 30,000 families (180,000 individuals) was turned over by Saudi Ambassador to the Philippines Abdullah al-Hassan to United Nations World Food Program (WFP) country director Stephen Anderson in a ceremony at the Saudi Embassy on Tuesday in Makati.