First Quantum increases stake in Minera Panama

First Quantum increases stake in Minera Panama

Project & Infrastructure Finance M&A Equity Panama

First Quantum Minerals said it has agreed to pay $635m for an additional 10% in the copper mining company Minera Panama. The Canadian miner said it will buy half of the Japanese-South Korean consortium LS-Nikko Copper's stake in Korea Panama Mining Corporation, a joint venture with Korea Resources Corporation (Kores) that owns 20% of Minera Panama. First Quantum will pay for the acquisition in six installments over five years. The company will cover the first installment with the proceeds from t

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