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Blackstone Minerals Expands Portfolio with Mankayan Copper-Gold Project Acquisition
Feb. 11, 2025 09:44AM PST
Resource Investing"We've operated in Vietnam for the last five or six years; we've been focused on nickel in Vietnam. Now we can use that team and our expertise in developing mines in Vietnam to the Mankayan project in the Philippines,” said Scott Williamson, managing director of Blackstone Minerals.
In a strategic move that marks a significant expansion beyond the company's nickel-mining operations, Blackstone Minerals (ASX:BSX,OTC Pink:BLSTF,FWB:B9S) has announced a merger of equals with IDM International to acquire the Mankayan copper-gold project in the Philippines.
This acquisition positions Blackstone to leverage its expertise in the evolving mining landscape, driven by energy transition requirements, according to Blackstone Managing Director Scott Williamson.
"We can leverage (the) experience that we have from operating in Vietnam, which is a similar jurisdiction. We've operated in Vietnam for the last five or six years; we've been focused on nickel in Vietnam. Now we can use that team and our expertise in developing mines in Vietnam to the Mankayan project in the Philippines," he explained.
The Mankayan project is renowned for its high-grade copper and gold potential, supported by impressive historical drill results. Williamson emphasized the project's significance, indicating the potential for a substantial resource expansion.
Blackstone's future plans for the Mankayan project include an aggressive exploration and development strategy.
"We're looking to do a bit of geophysics, but then also, once the merger has been completed, assuming it is all successful, then we would look to do further drilling. We think that there's opportunity to expand the resource," Williamson said.
The Philippines presents a favorable backdrop for this acquisition. Williamson pointed out that the government's pro-mining stance, coupled with successful operations by other companies in the region, creates an opportune climate for development.
Watch the full interview with Blackstone Minerals Managing Director Scott Williamson above.
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