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Franco-Nevada $1 billion boost for Cobre Panama

Monday, August 20, 2012

Gold-focused royalty company Franco-Nevada said it will provide $1 billion to Inmet Mining for the development of its Cobre Panama copper-gold project in Panama.

Franco-Nevada pays miners upfront cash in exchange for future royalties and holds interests in precious metal, base metal, and oil and gas projects around the world.

The company, based in Toronto, will get about 86 percent of precious metals output from Inmet's share of production from the mine under the deal.

Source: Reuters