Minera Panama Could Extend Term for Mining Operations

The company, a subsidiary of Inmet Mining, has discovered a new highly mineralized deposit in areas under its concession.

Friday, June 3, 2011

The operation of the new reservoir would extend the term of operation in the country to beyond 2045.

"The site at Balboa provides a significant increase in the expansion of production and life of the mine, " adds Inmet Mining in a press release.

According to an article in Prensa.com: "Minera Panama, meanwhile, declined to specify by how much longer operations would be extended. For now, studies are being conducted to clarify the potential of Balboa, which has better grades of copper and gold and which is located 1,500 meters west of other deposits. "



More on this topic

27% More Copper in Minera Panama

December 2012

Inmet Mining Corporation has announced that reserves in the Minera Panama copper project are 27% higher than initially estimated.

The company also reported a 41% increase in gold reserves.

According to a press release, the estimated copper reserves are
26,000 million pounds and 7.3 million ounces of gold.

Cobre Panama’s Environmental Report Approved

January 2012

The approval of the Environmental and Social Impact study is an important step that enables the entry of other investors into the project.

Inmet Mining Corporation announced that the National Environmental Authority of Panama (ANAM in Spanish) approved on December 28, 2011, a Study for Environmental and Social Impact Assessment (ESIA) necessary for the development of the copper mining project ‘Cobre Panama’, which includies mining operations and connected infrastructure, a port facility and a coal-fired power plant.

Panamanian Mining Project is "alive and kicking"

April 2011

The support shown by the country's government has given investors confidence and saw the Imnet Mining share price rise.

As reported by Mary Trini Zea for Prensa.com, the visit by the president Ricardo Martinelli suggests that the project in Panama's Colón province managed by its subsidiary, Minera Panama is alive and has the government's backing.

"Cobre Panama" Copper Mining Project for 2014

October 2009

Inmet Mining, owner of the copper mining project "Panama Cobre" plans to complete construction in 2014.

Environmental studies would be ready in the first quarter of 2010, and detailed engineering would begin mid-2010.

According to MiningWeekly.com, "The company has completed a drilling programme on the project, and is compiling the data it will need for mineral resource and reserve statements", which Inmet estimates at 150.000 t/d throughput rate for 30 years.