Canadian miner to commission $5.5 billion copper project in Panama

Canada’s First Quantum Minerals is a few months away from commissioning its massive $5.48 billion copper project in Panama, one of the largest of very few of its kind to begin production by the end of the decade.

The company, which gained control over the Cobre Panama project in 2013 with the acquisition of rival Canadian copper miner Inmet mining, said May 18 the open-pit mine was now about 50 percent complete.

First Quantum aims to spend close to $1 billion this year to advance construction at the project. The mine is expected to reach full capacity of 320,000 tonnes of copper annually by 2019.

Source: Business Vancouver