TODAY'S BUSINESS HEADLINES

DAP debacle, ports congestion drag down business confidence to 3-year low 29-Aug-14, 4:44 PM | Scarlet Venilia, InterAksyon.com

Money supply growth slips below 20 pct at start of 2H 29-Aug-14, 4:32 PM | Scarlet Venilia, InterAksyon.com

Budget deficit narrows at start of 2H as gov't spending fails to pick up 29-Aug-14, 1:55 PM | Rain Castro, InterAksyon.com

Globe spending $80M for new international undersea cable 29-Aug-14, 10:54 AM | Darwin G. Amojelar, InterAksyon.com

Macay Holdings shelves planned acquisition of Zest-O bottling lines 29-Aug-14, 10:18 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.

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