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Koreans aim to sell Cobre Panama copper mine

Friday, August 24, 2018

Korea Resources (Kores) has initiated a sale process for its 10 percent stake and offtake agreement in First Quantum’s Cobre Panama copper mine.

State-backed Kores is in the process of divesting non-core assets and aims to raise cash from the sale of its stake, sources said.

South Korean traders Samsung and Posco Daewoo have already begun talks regarding the offtake agreement at the mine, but the process to sell Kores’ interests in Cobre Panama will officially start September, when advisors are set to be appointed.