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Singapore’s Temasek Holdings takes stake in Inmet Mining for Cobre Panama

Wednesday, May 18, 2011

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