SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : TVI Pacific TVI (TSE)

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Kitskid who wrote (133)10/20/1999 11:26:00 PM
From: Kitskid   of 152
 
nationalpost.com
-

Wednesday, October 20, 1999
TVI expects victory in land dispute
Protesters laying claim to exploration site
Keith Damsell Financial Post
-
About 50 protesters remain on the exploration site controlled by TVI Pacific of Calgary.
-
Calgary junior TVI Pacific Inc. is taking its fight against protesters plaguing a remote Philippines mining project back to court this week. In the next few days, TVI expects a regional municipal court to grant the exploration company a temporary restraining order barring demonstrators from the Canatuan site on the island of Mindanao in the southern Philippines. It will be the company's third court order in as many months to remove protesters. "This is a crazy situation," said Clifford James, TVI president, chief executive, and chairman. "We don't want any violence and we don't want any confrontation." The exploration property has been the target of protests since TVI acquired the site in 1994. Some members of the local indigenous group, the Subanen, claim to have ancestral rights to the 500-hectare site. Meanwhile, small-scale miners who have worked the property for the past 15 years claim to have squatting rights. The two groups have won the support of local church leaders and a coalition of environmental groups, including industry watchdog MiningWatch Canada of Ottawa. At stake is the proposed development of a mixed metals deposit containing copper, zinc, silver, and gold. To date, TVI has invested about $17-million exploring the property and building a processing plant. In June, TVI signed a letter of intent with two undisclosed Japanese partners to develop the $18.5-million (US) Canatuan project. Under the terms of the deal, the Japanese will earn a 40% interest by providing 75% of financing. TVI hopes to begin commercial production early next year. Despite TVI receiving government approval and permits, demonstrators formed a human blockade on the property in August and September. Environmentalists allege TVI's armed security have harassed protesters and claim a company roadblock has restricted food from reaching demonstrators. About 50 protesters remain on the site. "This is our land. We have always lived here," said Osino Mato, secretary of the Siocon Subanen Association Inc. Allegations of intimidation are "utterly false," said Mr. James. A small minority of locals are opposed to TVI's exploration work because they wish to take advantage of the company's infrastructure on the site, he said. Earlier this month, an independent report by the National Commission of Indigenous Peoples of Western Mindanao failed to uncover any human rights abuses committed against demonstrators.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext