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Article: Korea : LS-Nikko options part of Inmet Panama project.
- Article from:
- TendersInfo
- Article date:
- October 29, 2009
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Byline: sanjayV03
Inmet Mining (IMN.TO) said on Wednesday it had entered an option agreement giving South Korea's LS-Nikko Copper the right to acquire a 20-percent interest in Inmet's Cobre Panama copper deposit in Panama.
Toronto-based Inmet has been seeking a partner to help fund Cobre Panama -- formerly called Petaquilla -- since former partner Teck Resources (TCKb.TO) cut ties with the project last year. Cobre Panama is Inmet's main development asset.
Under the deal, which also involves Korea Resources Corp, LS-Nikko would fund a portion of Cobre Panama's development costs, which could eventually run as high as $3.5 billion, according to ...