UPDATE: Inmet Announces Award of Cobre Panama Mine Pre-Stripping Contract; Inmet Up Slightly

By Midnight Trader,  December 28, 2012, 09:56:12 AM EDT

Inmet Mining Corporation (IMN.TO) announced that its subsidiary, Minera Panama S.A. (MPSA) has awarded the Cobre Panama mine pre-stripping contract to a joint venture of Salini S.p.A. and Impregilo S.p.A.

With this award, commitments for the development of Cobre Panama now amount to US$4.1 billion of the total estimated capital cost of US$6.2 billion, consistent with the company's project execution plan.

IMN edged up by 11 cents to $73.07, trading near year high $74.10. Over 9,000 IMN shares have changed hands.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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