BHP ready for compromise in Philippine row

BHP Billiton was willing to consider a proposal from its partner Asiaticus Management to resolve an ongoing conflict over a nickel project in The Philippines, according to the country's Environment Secretary, Jose Atienza. "BHP is open to a compromise agreement," Mr Atienza said. Asiaticus Management, BHP's local joint venture partner, suggested the arrangement last week. The two companies have been at loggerheads over development plans at Pujada, with Asiaticus saying that BHP was moving too slowly. A spokeswoman for BHP Billiton in Melbourne would not comment on the details of the proposal but said: "We remain committed to resolving the dispute with the local shareholder." Mr Atienza spoke with Chris Campbell, BHP's chief development official for stainless steel materials, last Friday. He said Mr Campbell had reiterated BHP's commitment to its mining interest at Pujada peninsula in southern Philippines, where nickel reserves have been estimated at 150 million tonnes, with 1.3 per cent nickel. "BHP isn't withdrawing (from The Philippines) and they want to pursue their interest in the country," the Environment Secretary said. Asiaticus' proposal was expected to provide an ore supply agreement that would allow the company to start mineral extraction in some areas, while BHP proceeded with exploration, another mining official said. ---The Australian