TODAY'S BUSINESS HEADLINES

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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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