Sagittarius Mines, Inc (SMI) operates the Tampakan copper-gold project as a joint venture between Xstrata Copper (62.5%), Indophil Resources NL (34.2%) and the Alsons Corporation (3.3%). The project is located on the southern Philippine island of Mindanao, approximately 65 kilometres north of General Santos City, and is situated on the boundary of three provinces: South Cotabato, Sultan Kudarat and Davao del Sur. Under the Financial and Technical Assistance Agreement, SMI holds a total land area of 23,571 hectares. The Tampakan Project is one of the largest undeveloped copper-gold deposits in the South East Asia-Western Pacific region. The extended pre-feasibility study has confirmed that it is a 2.2 billion tonne deposit, containing 12.8 million tonnes of copper and 15.2 million ounces of gold at a 0.3% cut-off grade.