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