Through a share exchange with a subsidiary of Temasek Holding, Imnet Mining will receive $500 million for the Cobre Panamá project.
The Canadian company Imnet Mining Corporation, which owns 100% of Minera Panama SA, who in turn owns Cobre Panamá, have announced an exchange of share subscription receipts with Ellington Investments Pte Ltd., a subsidiary of Temasek Holdings (Private) Limited, which is owned by the Singaporean government. When the agreement is finalised, Imnet will have $500 million to be used in developing the Cobre Panamá project and other corporate purposes.
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