Koreans Take Stake in Panama Copper Project

Koreans Take Stake in Panama Copper Project

Panama Asia M&A

The Korea Panama Mining Corporation (KPMC) has agreed to acquire a 20% stake in the Cobre Panama project, currently run by Canada’s Inmet Mining. KPMC, a joint venture between LS-Nikko Copper and the Korean Resources Corporation, acted under an option agreement to acquire the stake for $155m, leaving Inmet in control of 80% of the venture, Inmet says. The acquisition price reflected KPMC’s historical development costs incurred up until the option agreement date and its share of development costs

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