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.
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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.
