Inmet president and chief executive Jochen Tilk said the board is going through an extensive process. We are looking at all possibilities, Tilk said when asked about the possibility of an investor taking a minority stake in Cobre Panama. We are not precluding or excluding anything specifically assuming that it could result in a superior transaction for our shareholders.
Inmet owns 80 per cent of the Cobre Panama copper project through Minera Panama SA, with the remainder owned by Korea Panama Mining Corp.
The total cost of the project is estimated at $6.2 billion, including $1.4 billion to be funded by Korea Panama Mining and $4.8 billion through Inmet.
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