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Inmet says $4.3 billion Panama mine project viable

Tuesday, March 8, 2011

Canada's Inmet Mining said its financing plans for a copper and gold project in Panama are still viable, despite the repeal of a key law.

The law, passed less than a month ago, changed Panama's mining code to allow foreign government investment in mines.

It was crucial to Inmet's plans to partner with Singapore's state investor Temasek and Korea Resources Corp to finance and build its $4.3 billion Cobre Panama project.

Original source: Reuters