Tampakan’s base camp.
The Tampakan mine is projected to produce approximately 375,000 tonnes of copper and 360,000 ounces of gold in concentrate annually over a 17-year mine life. Commercial operations had originally targeted late 2026, but the company now expects production to begin in 2028 due to previous delays.
Discovered over 30 years ago, Tampakan has faced multiple setbacks. Glencore (LON: GLEN) exited the project in 2015 amid regulatory uncertainty and a nationwide ban on open-pit mining, which was lifted in 2021.
Over the past year, Chinese companies, including state-owned Aluminum Corp. of China (Chinalco), have shown interest in the project. However, discussions have been complicated by broader geopolitical considerations. Chinalco, China’s largest aluminium producer, has been investing in mines globally—from Guinea to Peru—to secure raw materials for major commodity markets. Other Chinese firms, such as Zijin Mining, are also expanding internationally to secure copper and other industrial metals.
The Tampakan project represents a significant opportunity for the Philippines to attract investment in modern mining technology while increasing domestic processing capabilities. Currently, the country exports mostly raw ore due to limited processing infrastructure, unlike neighboring Indonesia, which has expanded nickel exports from $3 billion to $30 billion over four years by building local smelters.
The Philippines and Indonesia remain the world’s top nickel suppliers to China, supporting industries such as stainless steel production and electric vehicle battery manufacturing. As the Tampakan project advances, it could help diversify the country’s mining output and strengthen its position in global commodity supply chains.
Sagittarius Mines aims to finalize a partnership that will enable the development of Tampakan under modern, efficient, and sustainable mining practices. By leveraging technological expertise and international investment, the project is expected to generate significant copper and gold production while contributing to the Philippines’ long-term industrial and economic growth.
Overall, the Tampakan copper-gold project remains one of Southeast Asia’s most significant undeveloped mines, offering substantial potential for production, technological advancement, and enhanced integration into global mineral markets once a strategic partner is secured.
