Markets

UPDATE: Inmet Announces Award of Cobre Panama Mine Pre-Stripping Contract; Inmet Nearing Day Highs

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 higher by about 1% to $73.48, almost hitting day high $73.50. Over 23,000 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 Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

Other Topics

Commodities

Latest Markets Videos