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Panama clears way for $5 billion Inmet copper mine

Friday, February 11, 2011


Panamanian lawmakers repealed a law preventing foreign government investment in mining.

The reform also cleared the way for Canada's Inmet Mining to build a $5 billion copper mine, the largest in Central America.

Despite angry cries from indigenous groups against mining who broke into the Congress building during the session, lawmakers approved the overhaul with 42 votes in favor, 15 against and no abstentions.

Original source: Reuters