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Morgan & Morgan advises Inmet Mining Corporation in the sale of a 20% stake in its subsidiary Minera Panama, S.A. to Korea Panama Mining Company

Wednesday, 18 July 2012 / Published in Aristides Anguizola, Banking Law, expertise, Inocencio Galindo, Mining, Projects

Morgan & Morgan advises Inmet Mining Corporation in the sale of a 20% stake in its subsidiary Minera Panama, S.A. to Korea Panama Mining Company

Morgan & Morgan acted as legal advisor to Inmet Mining Corporation (Inmet) and Minera Panama, S.A., in connection with Panamanian legal aspects related to the sale of a 20% participation in the company to Korea Panama Mining Corporation (KPMC).  Minera Panama, S.A. is the owner and developer of the Cobre Panama project, a US$6.18 Billion copper mining project.

Morgan & Morgan acted along with and assisted Inmet´s international counsel, Torys LLP, as well as Inmet´s and Minera Panama, S.A.´s internal legal departments in achieving the closing on this transaction.

In addition to the amounts paid by KPMC to close the acquisition of its 20% stake in Minera Panama, S.A., its investments includes a commitment by the investor to contribute 20% of the project’s development costs.

From Morgan & Morgan, partner Inocencio Galindo, and associate Aristides Anguizola, assumed the principal responsibility in this matter.

Morgan & Morgan actuó como asesor legal de Inmet Mining Corporation (Inmet) y Minera Panama, S.A. en relación a los aspectos legales para la venta de un 20% en la compañía a Korea Panama Mining Coporation (KPMC).  Minera Panama, S.A. es propietaria y promotora del proyecto Cobre Panamá, un proyecto minero de cobre de US$ 6.18 billones.

Morgan & Morgan actuó junto con y dio asistencia al asesor internacional de Inmet, Torys LLP y los departamentos legales internos de Inmet y Minera Panama, S.A. para lograr el cierre de esta transacción.

Adicional a las sumas pagadas por KPMC para lograr la adquisición de 20% en Minera Panama, S.A., su inversión incluye el compromiso del inversionista a contribuir con el 20% de los costos de desarrollo del proyecto.

Inocencio Galindo, socio, y Aristides Anguizola, asociado, asumieron por parte de Morgan & Morgan la responsabilidad principal en este asunto.

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