Inmet to keep 80% of Cobre Panama, remains ‘open minded’

Panama mine developer Inmet Mining on Monday said it would hold on to its 80% interest in the Cobre Panama copper/gold/molybdenum project, while CEO Jochen Tilk added that the company remained “open minded” to potential suitors. The company,...

Inmet completes basic engineering for Cobre Panama

Inmet Mining, the TSX-listed company developing the $6.2-billion Cobre Panama copper/gold/molybdenum project, on Monday said it had completed basic engineering and launched a financing plan to fully fund its 80% share of development costs. Minera...

Inmet eyes bigger mine at Cobre Panama

Inmet Mining, the Toronto-based miner that saw a 67% drop in fourth-quarter profit to C$48-million, is considering expanding its big Cobre Panama copper project in Central America, but only at a later stage, CEO Jochen Tilk said on Friday. “The...

Inmet gets environmental green light for Panama project

Toronto-quoted Inmet Mining said on Tuesday Panama had granted its Cobre Panama copper project environmental approval, as well as port facilities and a coal-fired power plant. With the approvals in place, a Korean consortium now has until January...

Inmet talking to big guns about Panama potential partnership

TSX-listed Inmet Mining, which ditched plans to merge with Lundin Mining in March, said most major mining companies had expressed interest in buying a 40% stake in its Cobre Panama copper project, and that it had signed nine confidentiality...

Inmet cuts 2011 guidance, Oks Panama project development

Inmet Mining's second-quarter profit fell 18% compared with a year earlier, after higher metals prices and additional earnings from a new mine in Spain were offset by lower copper sales volumes, mainly related to shipment timing. Inmet said late...

Inmet to decide on Panama project partners by mid-2012

Inmet Mining expects to decide on potential additional partners for its Cobre Panama copper project in the first half of 2012, CEO Jochen Tilk said on Monday. Inmet has already sold an option to buy 20% of the project to a Korean consortium.

Temasek swaps Inmet receipts for shares

Inmet Mining has received about $500-million after a subsidiary of Singapore's Temasek Holdings exchanged the subscription receipts it held for 7,78-million Inmet common shares. Temasek bought the receipts in a placement that closed in April last...

Inmet wary of M&A, still hopeful on coal power for Panama copper mine

The heated copper environment at the moment makes it “very difficult” to enter a deal without ending up in some kind of bidding war, and then risk overpaying for an asset, Inmet Mining CEO Jochen Tilk said on Friday. Inmet broke off a merger...

Lundin CEO sticks around but early days for potential deals

Lundin Mining chief Phil Wright said on Wednesday he will postpone plans to step down as CEO, after the company broke off an agreement to merge with rival Inmet Mining. Lundin, which continues to recommend rejection of an unsolicited offer from...

Lundin adopts rights plan, mulls options after Inmet deal called off

Lundin Mining and Inmet Mining have broken off plans to combine their companies, because they did not expect shareholders would support the deal, the firms announced on Tuesday evening. Lundin said separately that it has adopted a shareholder...

Tussle for Lundin far from over

There is still a lot of room for new twists in the battle for control of Lundin Mining, despite the company's board and management reiterating support earlier this week for a friendly merger with Inmet Mining, to form a new company called...