The offer, 19% higher than Inmet’s offer in September, "still does not match the appropriate value for the Petaquilla shares ", the company said.

The statement adds that Petaquilla Minerals will continue to explore strategic alternatives, including negotiations with third parties for a potential deal.

Inmet owns 80% of the Cobre Panama project, one of the largest copper mining ventures in the world, indicated reuters.com.

Source: Reuters

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