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Article: Panama : Inmet Mining Announces Option Agreement with LS-Nikko to Invest in Cobre Panama Project.
- Article from:
- TendersInfo
- Article date:
- October 30, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: manish03
Inmet Mining Corporation (Inmet) (TSX:IMN) announced today that it has entered into an option agreement (Option Agreement) with LS-Nikko Copper Inc. (LS-Nikko) under which LS-Nikko has the right to acquire a 20 percent interest (Option Interest) in the Cobre Panama copper project in Panama (Project). If LS-Nikko exercises the option, it will receive an equity interest in Minera Panama, S.A. (MPSA), owner of the Project. LS-Nikko may, prior to January 31, 2010, elect to increase the Option Interest to 30 percent.
LS-Nikko is holding the option through a wholly-owned subsidiary, Korea Panama
Mining Corp. (KPMC). LS-Nikko has ...