Insurance Day Asia
MORE THAN 1,000 FEARED DEAD FROM PHILIPPINES TYPHOON
The official death toll as a result of the typhoon that struck the Philippines late last week has risen to 425, with a further
599 missing, according to government officials. A further 20,000 are in evacuation centres, while up to a million people were
“affected” by the event. Most of the dead and missing are in the Albay province north of the capital of Legapazi, where the
rains dislodged volcanic debris left over from an eruption at Mount Mayon earlier this year. Philippines president Gloria
Arroyo said that the country could have to spend 15bn pesos in rescue. The agriculture department said that the farm sector
had incurred about 830m pesos in damage, with the rice sector suffering the most, with about 23,000 hectares impacted. About
7,000 hectares of corn crops were hit. Meanwhile, the Lafayette Mining Ltd polymetallic project on the island of Rapu Rapu
reportedly has been interrupted by the typhoon. When in full production, the project would be expected to produce about 10,000
tonnes of copper in concentrates, 14,000 tonnes of similar zinc, 50,000 ounces of gold and 600,000 ounces of silver. Vietnam
was today bracing itself for the impact of Durian. The country has evacuates tens of thousands of people as the storm was
scheduled to hit the south-central provinces of Khanh Hoa and Ninh Thuan on Monday night.