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Minera Panama Will Only Pay 2% RoyaltyTuesday, May 17, 2011 The Canadian company Minera Panama, SA announced that it will only pay a 2% royalty on profits to the Panamanian State. The official response from the company was given last week, after several months of discussion with the current government, including after bringing up in the reform of the Mineral Resources Code (last February) the possibility of upgrading the royalties from 2% to 4%. Copper Mine Submits Environmental Impact StudyThursday, September 30, 2010 Minera Panama presented its environmental impact study for its copper mining project. Also known as Cobre Panama, the $3.5bn project is operated by Minera Panama S.A., 100% owned by Canadian corporation Inmet Mining. Minera Panama Could Extend Term for Mining OperationsFriday, June 3, 2011 The company, a subsidiary of Inmet Mining, has discovered a new highly mineralized deposit in areas under its concession. The operation of the new reservoir would extend the term of operation in the country to beyond 2045. $3.5 billion mega mining project in ColonMonday, November 17, 2008 A Panamanian company with Canadian capital is currently evaluating the construction and operation of a large scale copper mine. Minera Panama is looking at investing some $3.5 billion in a mega project to extract copper. Inmet Mining Merges with LundinThursday, January 13, 2011 The owner of copper mining project Panama Cobre (Minera Panama SA), Inmet Mining Corp., merged with Lundin Mining Corp. The new company will be called Symterra and will focus on the exploitation of copper, having potential production of 500.000 tons of copper a year. Environmental Battle Scares Off InvestorsTuesday, March 20, 2012 The World Bank will not participate in the financing of Minera Panama, even though the company has announced it will operate under the standards of the International Finance Corporation. Minera Panama, a subsidiary of Inmet Mining, wants to gain new partners to capitalize on the copper mine that it operates in the province of Colon, with an investment of $4.32 billion. More Conditions for Mining ProjectMonday, January 16, 2012 The future area of operations has been declared a protected area and the Panamanian authorities have imposed new requirements. Inmet Mining Corporation, owner of Minera Panama, will have to meet new requirements in order to start building a copper mine in Donoso, Colon province, reported the National Environmental Authority (ANAM), as revealed by the Prensa Latina news agency. Panama: Mine Company FundedTuesday, March 1, 2011 The Mining Code’s reform allows Inmet to complete financing for $ 5.000 million needed to exploit Minera Panama’s copper mine. Specifically, the reform opened the possibility for foreign states to invest in mining projects. For Canadian company Inmet, this could translate into including Korean state company Kores, representing a project investment of $ 625 million. Environmental Guarantee Demanded of Mining CompanyThursday, February 9, 2012 The National Environmental Authority has approved an environmental impact study by the Canadian company Minera de Panamá, S.A., but requires the company to hold a deposit or guarantee for future environmental damage. Minera de Panama, SA aims to draw some 250 thousand tons of copper per year, and also extract molybdenum, gold and silver, reaching an annual turnover of almost $2 billion starting from 2016. Inmet and Lundin Mining Cancel MergerMonday, April 4, 2011 Inmet Mining Corp, owner of the copper mining project “Panama Cobre” (Minera Panama S.A.), canceled its merger plans with Lundin. The companies failed to have the agreement approved by the shareholders of both corporations. Inmet Mining Presents Copper Mine Project to Local AuthoritiesTuesday, January 26, 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. Korea Interested in Panamanian CopperFriday, May 21, 2010 Korean companies are interested in the Gnäbe-Buglé field (Cerro Colorado), and the copper mining project by “Minera Panama” in Cocle. Lee Myung-bak, president of South Korea, will visit Panama in June. He will meet with President Ricardo Martinelli to discuss Korea’s involvement in the country’s mining projects. Panama: Korean Mining Company Will Invest in Copper ProjectFriday, October 30, 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. Gold First Export Product in PanamaMonday, August 1, 2011 Exports of gold have topped the list of goods sold abroad; in the first 5 months of 2011 they totalled $43.1 million. The industry has almost tripled compared to the same period in 2010, when sales were $15.2 million, and has displaced products like bananas, pineapples, meat and fish. Panama to Host XII Investors ForumMonday, July 18, 2011 Organized by the Panamanian Stock Exchange, the event will be held on August 18 in Panama City. During the forum, nine Panamanian organizations will share their results and future plans. |
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2015