Quarry firm says landslide area in Cebu not part of operations


Posted at Sep 20 2018 04:58 PM

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MANILA - A firm with quarrying rights to an area in Cebu that was struck by a landslide Thursday said it had yet to start operations there. 

At least 5 were confirmed dead after part of a mountain collapsed in Sitio Tagaytay and Sitio Sindulan in Barangay Tinaan, Naga City, Cebu. 

Apo Land and Quarry Corp. said Thursday, that while it held mining rights to the area, it had no quarry operations there. 

"Operating in that area is not part of our pipeline this year or next year," company representative Chito Maniago said in an interview with ANC's Market Edge. 

None of Apo Land and Quarry Corp's employees were affected affected by the landslide, he said.

Before the landslide struck, the company warned local authorities and the Mines and Geosciences Bureau about "cracks" in the area, he said. 

Residents of the area were also advised to evacuate, he said.

Cemex Holdings Philippines does not own Impact Assets, which has a 40-percent stake in Apo Land and Quarry Corp, Maniago said.

But Cemex will likely issue a disclosure to the stock market soon about the incident, he said. Shares of the cement maker were down 5 percent at the close of Thursday's trading.