MELBOURNE-based junior Indophil Resources says it will cost up to $US2 billion ($A2.6 billion) to develop its Tampakan copper-gold project in the Philippines. The estimate comes after mining giant Xstrata agreed to sole fund further work on the project prior to making a decision on exercising an option to move to a 62.5% stake in the mine.

Click here to read the rest of today's news stories.