FREEPORT TO START SULPHUR MINE IN PHILIPPINES
Freeport McMoran Inc <FTX.N>, a New York
listed New Orleans-based natural resource, oil and gas company,
is planning to build and run a surface sulphur mine in the
central Philippines, a company statement said.
    It said Freeport officials were in the Philippines to
discuss contractual arrangements with joint venture partner
<International Consultex (Philippines) Inc>.
    The statement quoted Robert Foster, president of Freeport
Sulphur Co, as saying the company was optimistic about the
proposed mine at Pamplona in Negros Oriental province, as well
as the country's investment climate.
    "The sulphur project will involve initial capital
expenditures of between 50 and 100 mln dlrs depending upon the
processing technology and the capacity of the project," Foster
said. "We anticipate that the project may employ as many as
1,000 workers in Negros Oriental."
    Freeport-McMoran's senior vice-president Rene Latiolais
said the company was also interested in gold and other precious
metals and geo-thermal energy development in the Philippines.
    The statement said Freeport, which anticipates 1987 sales
of 1.5 billion dlrs, is a major producer of sulphur, phosphate
and nitrogen fertilisers, uranium oxide and geo-thermal energy.
 REUTER
