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Inmet decides to go ahead on Cobre Panama project but sets conditions

Tuesday, July 26, 2011

\ Canadian mining company Inmet reported second-quarter profits of $56 million, and said its board has decided to move ahead with a Panamanian copper mine, provided certain conditions are met.\ \ On Monday, Inmet said its board of directors approved the development of the Cobre Panama mine after completing a comprehensive review and risk assessment.\ \ But the approval is conditional on certain milestones. For instance, the project's environmental and social impact assessment must be approved by the Panamanian environmental regulator and Panamanian authorities must grant approvals and permits for construction and development of the mine and process plant.\ \ Original source: Canadian Press\ \ \ \