AsiaPhos falls 15% on possible loss of licences for 3 mines
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Singapore
SHARES in AsiaPhos Limited fell by as much as 18.4 per cent during the early session before closing down S$0.015 or 14.6 per cent to S$0.088 on Friday.
This followed the company's announcement in pre-market exchange on Friday that it received a request for undertaking - around Nov 21 - to vacate and rehabilitate two of its mining sites within the Jiudingshan Nature Reserve in the Sichuan province in China. AsiaPhos does not intend to sign the request for undertaking and may have to bear the rehabilitation costs of about 2.2 million yuan (S$448,316).
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