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Inmet Signs Deal with SNC Joint Venture for Plant at Cobre Panama: Report

Inmet Mining Corp. (IMN.TO) said Wednesday it has chosen a joint venture led by SNC-Lavalin Inc. (SNC.TO) for the first phase of the planning and construction of a process plant at the miner's Cobre Panama project, Canadian Press reported.

Financial terms of the agreement were not immediately available.

The joint venture will complete detailed engineering, procurement services in the first phase of the contract.

Once finished, the joint venture will be responsible for the construction in the second phase which is slated to start in the fourth quarter of next year.

The process plant is designed to treat a nominal throughput of 160,000 tonnes of ore per day using two grinding lines and later increase to 240,000 tonnes per day after nine years of operations.

Inmet owns an 80% stake in Cobre Panama.

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

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