Minera Panamá Seeks $5,000 million
Thursday, August 11, 2011
The company, a subsidiary of the Inmet Mining Corporation, requires local and international capital in order to develop the mining project.
The $5,000 million that Minera Panamá plans to raise for the construction of an open pit copper mine, will be negotiated with both Panamanian and foreign banks.

Company representatives said that given the magnitude of the project they will need to be financed jointly by several entities.

An article in Panamamerica.com.pa notes: "The Panamanian Copper Project is an open pit mine, which if approved by the Environmental Impact Study would be under construction from September for the next five years.

Before that, Minera SA Panama plan to raise capital of $5.000 million for the mine, which in turn would yield about 300,000 tons of copper annually for at least 30 years.

"We are evaluating financing alternatives, we have enough money to start construction, but we are talking to several banks and business partners for its development," he said Ernest Mast, senior director of Minera Panamá S.A."
More on this topic
Financing for Cobre Panama Complete
May 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.
Panamanian Mining Project is "alive and kicking"
April 2011
The support shown by the country's government has given investors confidence and saw the Imnet Mining share price rise.
As reported by Mary Trini Zea for Prensa.com, the visit by the president Ricardo Martinelli suggests that the project in Panama's Colón province managed by its subsidiary, Minera Panama is alive and has the government's backing.
Panama: Mine Company Funded
March 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.
"Cobre Panama" Copper Mining Project for 2014
October 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.
Copper financing
Key entities
Inmet Mining Corp Minera Panamá Ernest Mast
Cobre Panamá Mine copper mine Financial assistance Mining & Geology
Cobre Panamá Mine
Mining & Geology
copper mine
Inmet Mining Corp
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