Singapore’s Temasek Holdings takes stake in Inmet Mining for Cobre Panama
Canada’s Inmet Mining has received about $500 million after a subsidiary of Singapore's Temasek Holdings exchanged the subscription receipts it held for 7.78-million Inmet common shares.
Inmet will use the funds to help develop its Cobre Panama copper project, and for general corporate purposes, and Temasek will have the right to nominate a director for election to Inmet's board.
The Cobre Panama project is expected to produce an average of 255,000 tons per year of copper.
Original source: Creamer’s Mining Weekly