TODAY'S BUSINESS HEADLINES

DNL buying out minority shareholders of Chemrez 01-Sep-14, 7:55 AM | Krista Angela M. Montealegre, InterAksyon.com

Gov't debt payments decline at close of 1H 01-Sep-14, 7:46 AM | Rain Castro, InterAksyon.com

Infrastructure tops concerns of American companies doing business in PH 01-Sep-14, 7:32 AM | Chelsea Cruz, InterAksyon.com

Container yard use at Manila's ports returns near capacity amid overstaying cargo 01-Sep-14, 7:27 AM | Darwin G. Amojelar, InterAksyon.com

Profit taking seen to take hold of PH stock market this week 01-Sep-14, 7:11 AM | 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.

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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.

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