Inmet forging ahead with Panama’s Petaquilla project

Dec 19, 2008 | 12:39 PM | Anne Riley

Inmet forging ahead with Panama's Petaquilla project

When cash-strapped Teck Cominco Ltd. pulled out of its joint-venture Petaquilla copper project last month, some questioned whether Inmet Mining Corp. would have the resources to plow ahead alone.

But Inmet has confirmed its commitment to develop the large-scale Panamanian copper mine, pledging Canadian $94 million ($76.6 million) toward the project in 2009, or 38 percent of next year's capital expenditure budget.

"We believe that our financial position will allow us to both sustain our business and continue to grow," the Vancouver, British Columbia-based company said.....

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