Panama: Inmet finds More Copper

The Canadian mining company announced the discovery of new mineral deposits at the Cobre Panama Mining Project.

Wednesday, March 9, 2011

The deposit, which has the highest concentration of copper to date, is called "Balboa.”

Jochen Tilk, President of Inmet Mining said that "this discovery confirms our belief that the project has exceptional potential for exploitation. We believe there are even greater copper concentration deposits, we will keep exploring."

More on this topic

First Quantum Suspends Cobre Panama Mine Contracts

April 2013

Following the acquisition of Inmet Mining, the former owner of the mega mining project in Panama, First Quantum has suspended construction contracts with SNC-Lavalin, for $120 million.

A statement by SNC-Lavalin notes that, "First Quantum Minerals, which recently acquired a majority stake in Inmet Mining Corporation (Inmet), and took control of the Cobre Panama project, typically directs and executes its projects based on direct internal recruitment procedures, looking for external experience only when necessary. "

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 Copper Mine Plan Approved

July 2011

Inmet's Board of Directors have approved the work plan for the mining project.

After several months of analysis, the Canadian company Inmet, one of the biggest players in the mining industry, will finally begin implementing the plan of work in the copper mine in Panama.

Panama: Copper Mine Company Seeks New Partners

June 2011

The Canadian company Inmet will define the participation of new partners for its mining project in mid 2012.

The company engaged in the exploration and extraction of minerals, led by its copper mining project in Panama, formerly known as Project Petaquilla, is examining options for getting additional capital and partners to develop the project.

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