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First Quantum buys Cobre Panamá for $5 billion

Thursday, March 14, 2013

After a long battle, Canada's First Quantum finally acquired Cobre Panamá, one of the world's largest copper projects, from Inmet Mining, also from Canada.

About 60 percent of Inmet's shareholders accepted First Quantum's bid for $5.1 billion.

Cobre Panamá is expected to produce some 300,000 tons of copper per year, over the next 40 years once it starts operating in 2016.

Full story (in Spanish)