TODAY'S BUSINESS HEADLINES

SSS starts search for local fund managers 30-Oct-14, 7:41 PM | Rain Castro, InterAksyon.com

Bangko Sentral warns of short-term volatility after US Fed ends stimulus 30-Oct-14, 5:00 PM | Scarlet Venilia, InterAksyon.com

Select buying brings back PH stock index above 7,100-mark 30-Oct-14, 4:34 PM | Krista Angela M. Montealegre, InterAksyon.com

Ayala raises more than enough from preferred share sale to prepay debt 30-Oct-14, 2:58 PM | Krista Angela M. Montealegre, InterAksyon.com

Tantoco-owned luxury retailer touts strong demand for IPO 30-Oct-14, 12:47 PM | Krista Angela M. Montealegre, InterAksyon.com

Pasar smelter plant in Leyte sustains damage from 'Yolanda'

File photo of PASAR plant during inauguration graced by President Benigno Aquino III and Rep. Lucy Torres.

InterAksyon.com means BUSINESS

MANILA - The Philippines' lone copper smelter and refinery today said it sustained damage to its plant in Leyte after Typhoon 'Yolanda' cut through the province over the weekend.

In a statement, the Philippine Associated Smelting and Refining Corp (PASAR) said it has yet to detemine the extent of the damage pending the results of inspection.

But based on preliminary assessment, PASAR said its facility in Isabel town "sustained heavy structural damage." The company said it may take 4-6 weeks before operations resume.

"Our thoughts are with those employees and their families who have been impacted by Yolanda. PASAR will offer all necessary support where we can," the company said.

OTHER BUSINESS STORIES
BREAKING NEWS