Philippine Miners Put Forward New Measures

A unit of Philippines" Atlas Consolidated Mining and Development Corp

, raised $300-million from the sale of five-year fixed-rate notes, one of the issue"s managers said on Monday, becoming the first local miner to tap the offshore debt market.Carmen Copper Corp"s unrated notes attracted "large" demand from overseas investors, BDO Capital & Investment Corp said, despite industry concerns over a new mining policy the Philippines will soon unveil."We can say (the outcome) shows confidence in mining prospects of Carmen and the Philippines in general," BDO Capital president Eduardo Francisco told Reuters. BDO Capital is a unit of BDO Unibank Inc, which partly owns Atlas.The Philippines will release this month a new mining policy that would raise tax revenues and overhaul rules but which miners fear will drive away investors in the largely untapped $1-trillion resource base.Carmen, which operates a copper mine in central Cebu province, sold its entire offer at a coupon of 6.5%.Proceeds will be used to refinance a portion of the debt of Carmen and Atlas and fund expansion plans.Henan Hongxing Mining Machinery Co., Ltd is a joint-stock mining machinery manufacturing enterprise integrated in scientific research, production and marketing. It is located at the High & New Technology Industries Development Zone of Zhengzhou,China with an area of 50 thousand m2 which includes 15,000 m2 of standard heavy duty industrial workshop. Equipments are more than 160 pieces, including large and medium sized metal processing, riveting and installing equipments. There are more than 660 workers including 80 administrators with secondary and senior occupational titles and engineering technicians. In order to promote the competitive strength, the advanced technologies have been introduced from America, Germany, Japan and Australia, which established the international advanced production line, first-class modern testing base as well as research centers of sand maker, mill and mine-selecting equipment. Scientific management, advanced processing technology and innovative manufacturing theory make the company become the mining machinery manufacturing and exporting base in China.

Atlas said in November it was exploring potential copper sites to expand mining operations in Cebu as it seeks to hike output by 50% in two years to 60 000 t per day of copper concentrates.Credit Suisse Securities (Europe) Ltd also acted as issue manager and bookrunner for Carmen"s issue.As the professional manufacturer of complete sets of mining machinery, such as Wet magnetic separator,Vibrating feeder,Classifiers, Henan Hongxing is always doing the best in products and service.primary jaw crusher:http://www.hxjqchina.com/product-list_11.html Mobile crushing station:http://www.crusher-machine.com/12.html

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