Franco-Nevada Pays Inmet $1B For Panama Mine's Metals

Law360, New York (August 20, 2012, 5:30 PM EDT) -- Precious metals financier Franco-Nevada Corp. plunked down a $1 billion advance payment for gold and silver from Inmet Mining Corp.’s Cobre Panama project, which will help Inmet finance its share of the $6.2 billion mine, the firms announced Monday.

The deal gives Inmet $4.2 billion of the $4.8 billion it needs to cover its 80 percent of the capital costs for the project but does not touch the 20 percent slice owned by Inmet’s development partner, a consortium of LS-Nikko Copper Inc. and Korea Resources Corp.,...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.