Aussie mining firm seeks BOI perks

An Australian mining firm has applied with the Board of Investmentst (BOI) for its zinc and copper processing project.

Rapu-Rapu Processing, Inc. (RRP) is the processing and marketing entity of Lafayette Philippines, Inc. (LPI) which, in turn, is a wholly-owned subsidiary of Lafayette Mining Ltd. of Australia.

Rapu-Rapu Minerals, Inc. (RRM), a subsidiary of LPI, will service the ore requirements of RRP.

Based on its application with the BOI, RRP is investing $55 million or around P2.7 billion for its planned processing plant to be located in Rapu-Rapu Island in Albay.

This will be the first time that the mining and processing of zinc is allowed in the country.

Zinc, which does not corrode easily, is used as a coating for GI sheets and in the manufacture of coins.

In the past, all of the zinc used in the country were imported. Zinc had been mined in small quantities in the past by a small mining firm in Zamboanga, but the main ore being mined was copper.

While RRP’s processing operation would primarily produce zinc and copper, it would also have gold and silver as by-products. All of RRP’s production is intended for export.

It plans to produce 35,000 tons per year of copper concentrate and 35,000 tons per year of zinc concentrate. – Marianne Go