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Inmet Mining shares tumble on Martinelli’s back-track on Panama law

Monday, March 7, 2011


Questions are being raised about the future of Inmet Mining's flagship Cobre Panama project in Panama.

Panamanian President Ricardo Martinelli plans to repeal part of his country's mining code that allows investments from foreign governments, a key aspect of Inmet’s scheme.

Inmet's shares fell more than 7 percent in Toronto on Friday, a day after the president's announcement.

 

Original source: Nasdaq