Dominion Holdings says no approved plans for Tampakan investment

DOMINION HOLDINGS, INC. said it is considering various potential and strategic investments but has not approved any specific plans involving the Tampakan copper-gold project.

The listed firm issued the clarification on Monday after the Philippine Stock Exchange requested comment on an April 26 InsiderPH report linking the company to developments related to the Tampakan project.

The report, citing an unnamed source, said the Sy family, alongside the Consunji and Alcantara groups, was exploring a more direct role in advancing the stalled mine.

It also said a possible merger of Tampakan-related entities into Dominion Holdings and a potential minority stake in Atlas Consolidated Mining & Development Corp. were being considered.

“Dominion Holdings, Inc. is currently considering various potential and strategic investments. However, to date, the Board has not approved any plans on any specific investment,” the company said in a disclosure.

The Tampakan project in South Cotabato is considered one of Southeast Asia’s largest undeveloped copper-gold deposits. It has faced delays due to regulatory and environmental issues, including a provincial ban on open-pit mining. — Vonn Andrei E. Villamiel