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