$3.5 billion mega mining project in Colon

A Panamanian company with Canadian capital is currently evaluating the construction and operation of a large scale copper mine.

Monday, November 17, 2008

Minera Panama is looking at investing some $3.5 billion in a mega project to extract copper.

The project will be located in Northern Cocle and San Jose del General in the district of Donoso in the province of Colon.

It will be developed in an zone of approximately 3000 hectares, which include the main operations area, and the ...

More on this topic

Korean Company Buys 20% Of Panamanian Copper Mine

March 2010

LS-Nikko will take a 20% stake in the copper mining project “Cobre Panama”.

The remaining 80% will be controlled by Inmet Mining Corporation. It will be located in Coclé del Norte, and will require a $3.5 billion investment.

From the press release: “LS-Nikko, through its wholly owned subsidiary, Korea Panama Mining Corporation (KPMC), has decided to keep its option to acquire an equity interest in Minera Panama, S.A.

Inmet Mining Presents Copper Mine Project to Local Authorities

January 2010

"Minera Panama", a subsidiary of Canadian corporation Inmet Mining, presented its cooper mining project to the technical council of the province of Colón.

The project, dubbed "Panama Cobre", would be located in Coclé del Norte, Donoso district, and would require an investment of $3.5 billion.

Panama: Korean Mining Company Will Invest in Copper Project

October 2009

Korean company LS-Nikko could invest up to $260 million in copper mining project "Cobre Panama".

LS-Nikko signed an option agreement with Canadian company Inmet Mining Corp, owner of the project. Under the agreement, LS-Nikko will have the option to acquire between 20% and 30% of the copper mining project "Cobre Panama" (Minera Panama S.A.), depending on how much it invests in it.

Petaquilla Goes for Copper

September 2009

Petaquilla Gold is looking to expand its Panamanian operations, this time to mine copper.

Within a reorganization process at Petaquilla Gold, a subsidiary of Petaquilla Minerals Ltd., the company Azuero Mine was created. It will exploit gold and copper deposits in "El Chorcha" (Chiriquí), "Cerro Quema" (Los Santos) and "Santa Rosa" (Veraguas), where the mining potential is estimated at $80 billion.

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