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Inmet launches plan for $7.6 billion Cobre Panamá

Monday, May 7, 2012

Inmet Mining, the company developing the $7.6 billion Cobre Panamá mining project, said it had completed basic engineering and launched a financing plan to fully fund its 80 percent share of development costs.

Minera Panamá, an 80 percent-owned subsidiary of Inmet, had completed the most important steps of permitting and basic engineering paving the way for mine construction to start.

Upon closing of the proposed offering of $1 billion senior, unsecured notes, Inmet would start construction of the mine.

Source: Mining Weekly