HudBay delays Guatemala mineThursday, November 6, 2008 Weak metals prices and global economic uncertainty has forced zinc and copper producer HudBay Minerals Inc. to delay construction of the Fenix nickel project in Guatemala. But its large cash position could make it a takeover target. Petaquilla gold mine in Panama ready for operationMonday, December 8, 2008 Petaquilla Minerals Ltd, based in Vancouver, will begin to produce gold in the next few weeks at the Molejon project in Panama. The project will produce 100,000 ounces of gold in 2009 and will maintain that level for at least six years, Bassam Moubarak, company financial director, said to Reuters. 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. Professional Call Services S.A. Company Profile
Pro-Call BPO Services is a company in the Outsourcing Industry in Nicaragua. Pro-Call is the best Sales Oriented Contact Center in the country for the US / Canadian market. First Quantum Suspends Cobre Panama Mine ContractsWednesday, April 3, 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. " 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. Imnet Secures 80% of Funding for Cobre PanamaWednesday, August 29, 2012 The mining company agreed to provide gold and silver at $400 and $6 per ounce respectively, to Franco Nevada, which will in return provide funding of $1 billion. Franco-Nevada Corporation and Inmet Mining Corporation announced the terms of an agreement for the supply of precious metals from the flows of the Cobre Panama copper project in Panama which is under construction. 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). Korea Interested in Panamanian CopperFriday, May 21, 2010 Korean companies are interested in the Gnäbe-Buglé field (Cerro Colorado), and the copper mining project by “Minera Panama” in Cocle. Lee Myung-bak, president of South Korea, will visit Panama in June. He will meet with President Ricardo Martinelli to discuss Korea’s involvement in the country’s mining projects. Pacific Rim Acquires Mining Project in PanamaFriday, August 20, 2010 The Canadian mining company, currently embroiled in an international arbitration case with El Salvador, has signed a letter of intention to acquire a gold mine in Panama. Known as "El Remance", the mine is currently the property of Clifton Mining Company, with whom Pacific Rim will sign an option to purchase a 100% stake in the project. Mining Lawsuit Against El Salvador DismissedWednesday, March 16, 2011 The International Center for Settlement of Investment Disputes dismissed a lawsuit filed by Commerce Group. The lawsuit filed under CAFTA terms alleged that the Government, in 2006, without justification, revoked permits which had been awarded for the exploitation of mines in San Cristobal and San Sebastian and that a request made in 2008 to extend operating licenses at the San Sebastian and Nueva Esparta mines was denied. Pacific Rim freezes study on El Salvador gold mineFriday, February 13, 2009 The company will defer the completion of a feasibility study for its El Dorado project, because of volatility in the capital cost estimates, as well as permitting uncertainty. Pacific Rim will conserve its cash until the input costs for the project have stabilised, and the study can accurately reflect factors like commodity prices and capital equipment costs. BacTech Announces Intent of Buying Guatemalan MineWednesday, May 5, 2010 BacTech Gold Corporation signed a letter of intent to by the gold and antimony mine called “San Ildefonso Ixtahuacan”, for $19 million. This mine started operations in 1969, and is currently operated by “Minas de Guatemala S.A.”, a subsidiary of Caribbean Resources Group Corporation. Land Concession Granted to Minera PanamaWednesday, October 3, 2012 The Panama Maritime Authority has granted a concession for 20 years to Minera Panama SA covering eight acres in Punta Rincon, in the province of Colon, for the construction of its port. According to Resolution No. 130, published in the Official Gazette 27132, Minera Panama is authorized to construct a port in the district of Donoso, where from 2016 it will load copper concentrate which has been extracted from its mining concession located in the same district. Estimated Production of Cobre Panama Raised by 20%Tuesday, January 28, 2014 First Quantum has announced that the copper mine will produce 20% more than originally estimated, but the start of operations will be delayed until 2017. The delay in the start of operations of the Cobre Panama mine, purchased by the Canadian company First Quantum last year, will mean higher costs. |
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