Korea’s Eximbank to Finance Panamanian Mining ProjectWednesday, June 30, 2010 Eximbank, a South Korean state-owned bank, closed an agreement with Inmet and a Korean consortium to develop the copper mining project known as Cobre Panama. The agreement states that Eximbank will provide financial support to the project, which also involves Canadian mining company Inmet and a South Korean consortium composed of Korea Resources, LS-Nikko Copper and Korea Export Insurance (KEIC). Fogel Ships Refrigerators to South AfricaFriday, June 11, 2010 Guatemalan company Fogel has shipped a total 10.000 “froster” refrigerators to the African country; they will be used to cool Castle Lite Beer. Said beer is manufactured by South African Breweries (SAB), who dominates 98% of the South African market. Cobre Panama to Sell $1 billion in BondsTuesday, May 8, 2012 The Canadian owned mining company owner is not looking for more equity partners, but will instead fund development of the mine by issuing bonds. The reduction of risks to the project has enabled it to seek finance by issuance of debt, whose principal will mature in 2020. This will not alter, in principle, the current composition of capital, of which 80% is owned by Inmet Mining Corp. Korean Consortium to Develop Copper Mine in PanamaFriday, January 6, 2012 A consortium made up of the state company Kores and LS-Nikko Cobre Inc. has announced the start of the operations in the Cobre Panama mining project in the first half of the year. The announcement by state-run Korea Resources Corporation comes a few days after the approval by Panama’s National Environmental Authority, of the development plans for the mines in the Cobre Panama project. Korean Company Buys 20% Of Panamanian Copper MineTuesday, March 16, 2010 LS-Nikko will take a 20% stake in the copper mining project “Cobre Panama”. The remaining 80% will be controlled by Inmet Mining Corporation. It will be located in Coclé del Norte, and will require a $3.5 billion investment. Inmet Sells 20% of Cobre Panama to Korean Holding CompanyTuesday, January 10, 2012 Inmet Mining Corp. has announced the sale of 20% of its copper mining project in Panama for $155 million. The buyer is Korea Panama Mining Corporation (KPMC), a holding company owned by the South Korean KS-Nikko Copper and the state run South Korean company Korean Resources Corporation. $9.2 million additional capital for wind power project in Costa RicaWednesday, September 10, 2008 Econergy International said it has secured additional working capital of up to $9.2 million and in particular short- to medium-term finance of up to $89.3 million. The financing is as part of an amended credit facility with an affiliate of Suez Energy South America Participaes Ltda. Purdy Motors Buys US DealerThursday, February 19, 2015 The Costa Rican Automotive company has acquired a car dealership in Dallas, bringing the number of subsidiaries of the company operating out of Costa Rica to five. The new branch in Texas, was born under the brand Atkinson Toyota South Dallas and is dedicated to marketing Toyota and Scion brands of cars. Purdy Motor plans to continue expanding its operations primarily in North America. El Salvador: $6 million for IrrigationFriday, July 31, 2015 Construction has been announced of an irrigation system for rice cultivation in the cantons San Cristobal and El Rosario, Santa Ana department, funded by the Korea International Cooperation Agency. The Cooperation Agency donated $4.5 million and the remaining $1.5 million will be provided by the Ministry of Agriculture. Korea to Find Funding for Guacerique II DamFriday, June 17, 2011 An agreement with the Honduran government includes financing technical studies and managing the search for construction investors from a pool of South Korean candidates. The International Cooperation Agency of Korea (KOICA) and the National Autonomous Service of Aqueducts and Sewers (SANAA) have signed an agreement endorsed by President Porfirio Lobo, through which technical studies will be conducted for the construction of the Guacerique II dam which will supply drinking water to the capital, Tegucigalpa. The technical work, which costs about a million dollars, will be funded by Korea. Korean Companies Interested in Central AmericaTuesday, June 29, 2010 Representatives from South Korean companies are touring Panama, evaluating different regional investment options. Several high profiles companies are represented in the trade mission: Samsung Electronics, Hyundai Motors Company, LS-Nikko Copper, Korean Air, Hanjin Shipping, Korea Federation of Textile Industries and the Export-Import Bank of Korea, among others. South Korea Will Contribute $325 Million to CABEIThursday, July 1, 2010 The Asian country confirmed its membership in the Central American Bank for Economic Integration. The announcement was made by Panamanian President Ricardo Martinelli, at the end of the third summit of the Central American Integration System (SICA) in Panama. "Cobre Panama" Copper Mining Project for 2014Wednesday, October 28, 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. 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. Financing for Cobre Panama CompleteTuesday, May 22, 2012 After closing the bond issuance with $1.5 billion, Inmet Mining has announced that it has $6.2 billion funding available, to cover the cost of the mine in Donoso, Panama. The board of Inmet Mining, parent company of Minera Panama, has given permission for the construction of a copper mine in Donoso, Colon province. |
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