Title to the Tampakan Project is under an FTAA with the Government of the Republic of the Philippines . This is a partnership which allows the Government to take a pre-determined share of project cash flow once development capital is paid back.

FTAA`s have a fixed term of 25 years and an option to extend for a further 25 years. The original title to the FTAA was granted to WMC Philippines Inc (WMCP). in March 1995 covering an area of approximately 900 square kilometers and has been subject to statutory reductions in area since that time.

Following statutory relinquishment, the area held under what is known as the Columbio FTAA is currently 23,571 hectares. A contiguous FTAA application (Hillcrest) covering an area of 259 square kilometers forms part of the project area (Fig. 1).

The Tampakan Project is held by Sagittarius Mines, Inc., a Philippine incorporated company. The A Class shares are held as follows:

- 62.50%   Xstrata

- 37.50%   Indophil Resources NL

Since 1 April 2007, Xstrata have assumed the role of Manager of the Tampakan Project.

On 21 December 2009, Indophil finalsed the Indophil-Alsons agreement and issued Alsons with 25.9 million shares as consideration for the acquisition of Alsons` 3.27% interest in Sagittarius Mines Inc.