Tuesday, March 13, 2012

$300-million raised from the sale of five-year fixed-rate notes in Philippine

Raising $300-million from the sale of five-year fixed-rate notes, the unit of Philippines' Atlas Consolidated Mining and Development Corp becomes the first local miner to tap the offshore debt market.

"Large" demand from overseas investors was attracted by Carmen Copper Corp's unrated notes, BDO Capital & Investment Corp said, despite industry concerns over a new mining policy the Philippines will soon unveil.

From the mining law before ,we can see that the government paid much attention to the environment ,for there is one rule that is called "Pollution control and infrastructure devices" ,which refers to infrastructure, machinery, equipment and improvements used for impounding, treating or neutralizing, precipitating, filtering, conveying and cleansing mine industrial waste and tailings as well as eliminating or reducing hazardous effects of solid particles, chemicals, liquids or other harmful by products and gases emitted from any facility utilized in mining operations for their disposal.

The government will not limit the exploration of the resourced too much unless they do much harm to the environment. As to the mining manufacturing, the mining facility, like crusher, play an important role in it.

Even though the new law will come out, the government’s attention will not change. So if the Atlas' unit wants to operate well, they must pay much attention to their facility that is the crusher, it must be good to the environment.

Some people will pay their attention to the tax revenues and overhaul rules , but if high efficiency and environment-protected crusher is used ,the miners will have huge benefit from it. And it is also good to refinance a portion of the debt of Carmen and Atlas and fund expansion plans.