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. 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). 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. 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. 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. Panama Cancels Cooper and Gold ConcessionWednesday, September 22, 2010 The mining field known as “Cerro Chorcha”, with estimated reserves of 2.17 million pounds of copper and 449.000 gold ounces, is now a reserved mining area. Roberto Henríquez, Commerce and Industry Minister, explained they decided against renewing the mining exploration concession granted to Cuprum Resources Corp on 2006, which expire on April 2010, due to the company’s lack of compliance with some requisites. "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. Nicaraguan Mine Begins Second Phase of ExplorationThursday, August 4, 2011 Calibre Mining Corp. and B2Gold and have begun the second phase of exploration of the Primavera gold and copper mine. In a press release, Calibre explained that this phase of exploration has an available budget $441,000, and that they will focus on three areas that show a potential of up to 1.48 grams of gold per ton. Panama: Inmet finds More CopperWednesday, March 9, 2011 The Canadian mining company announced the discovery of new mineral deposits at the Cobre Panama Mining Project. The deposit, which has the highest concentration of copper to date, is called "Balboa.” Petaquilla Goes for CopperThursday, September 17, 2009 Petaquilla Gold is looking to expand its Panamanian operations, this time to mine copper. Within a reorganization process at Petaquilla Gold, a subsidiary of Petaquilla Minerals Ltd., the company Azuero Mine was created. It will exploit gold and copper deposits in "El Chorcha" (Chiriquí), "Cerro Quema" (Los Santos) and "Santa Rosa" (Veraguas), where the mining potential is estimated at $80 billion. Canadians Buy Nicaraguan Copper and Gold MineWednesday, May 27, 2009 Calibre Mining Corp. executed an option to purchase 100% of a copper and gold mine from Yamana Gold Inc. in Nicaragua. Calibre announced the purchase of 70,976 hectares located in the North Atlantic Autonomous Region of Nicaragua, an area that covers the historic Mining Triangle area, covering the municipalities of Siuna, Bonanza and Rosita. According to the press release from the company, the Mining Triangle is one of the most productive mining areas in Central America. Operations at Cobre Panama Mining Project NormalizedWednesday, July 9, 2014 The company Minera Panama has made an agreement to resume construction work at the mine after reaching an agreement with workers over working schedules. After construction stopped in the Cobre Panama mine project on June 27, due to a labor dispute with workers of the project, the company First Quantum Minerals has said it has reached an agreement to resume work. Panamanian Copper Mine Plan ApprovedWednesday, July 27, 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: Petaquilla copper project moves aheadThursday, October 30, 2008 Inmet Mining Corp will continue with the Petaquilla copper project for at least through out the permit request phase. Then they will make a final decision on construction based on the price of the metals at that moment, they said. "We believe (...) that it is appropriate to continue at Petaquilla, but we continue to be disciplined and will find the proper balance between continuing with the project and maintain our money in reserve," the president of operation of Inmet, Jochen Tilk, said during a teleconference. |
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