Indophil Resources NL’s operations in one of its main units will continue to be in a standstill, for now, as it has been seeking a clarification from Philippine authorities on whether it will restrict the open pit mining activities in the region.

The Company owns one-third stake in Tampakan copper-gold project in the Philippines worth $US5.2 billion.

As per the reports released in the Philippines, the provincial Governor of South Cotabato is planning to direct the local Government to launch a regulation on open pit mining in the region.

"These same reports also confirm that any such ban is beyond the scope of authority of local legislation”, said Indophil.

The Company added that it needs urgent clarifications on the ban as whether it will be imposed or not.

Possessing 13.5 million tons of copper and 15.8 million ounces of gold, Tampakan has predicated the addition of 2.4 billion tones JORC-compliant mineral resources to its existing resources.

The complete analysis on Tampakan was provided to the Philippines government in April. It finds its basis on the manufacturing of 44 million tons a year.

Meanwhile, in December, last year, Zijin had offered $1.28 of cash to Indophil for its shares.