Inmet Mining Announces Process Plant Contract Award
TORONTO, CANADA -- (Marketwire) -- 11/14/12 -- Inmet Mining
Corporation ("Inmet") (TSX:IMN) is pleased to announce that its
subsidiary, Minera Panama S.A. (MPSA) has selected Joint Venture
Panama Inc. (JVP), a joint venture led by the mining and metallurgy
division of SNC-Lavalin Inc. (a member of the SNC-Lavalin Group Inc.)
with partners GyM S.A. (a member of Grana y Montero Group) and
Techint International Construction Corp., to proceed with detailed
engineering, procurement and construction of the Process Plant. This
engagement will be performed in two phases. Under the first phase,
JVP has been instructed to proceed with detailed engineering and
Upon satisfactory advancement of detailed engineering, JVP will be
instructed to proceed with the second phase which will involve the
construction of the facility starting in Q4 2013. MPSA has already
ordered SAG/Ball mills and motors, which are in manufacturing and
scheduled to be delivered on site starting in Q4 2013.
The award to JVP recognizes the expertise of each party to the joint
venture led by SNC-Lavalin, one of the world's leading engineering
and construction groups. This award is the outcome of an eight-month
competitive process involving several international consortia of
engineering and construction firms.
The process plant is designed to treat a nominal throughput of
160,000 t/d, using two grinding lines, each having capacity of 80,000
tonnes per day. It is planned that the ore feed rate will increase to
240,000 tonnes per day after year nine of operations to maintain
concentrate production levels despite a falling head grade. The scope
of the mineral processing plant includes:
-- primary crushing, coarse ore conveying with mill feed stockpile with
reclaim apron feeders;
-- two (2) parallel semi-autogenous (SAG) mill lines with two (2) ball
mills per line;
-- bulk rougher flotation and cleaners;
-- molybdenum circuit;
-- copper concentrate thickener;
-- copper concentrate pumping to a filtration plant and concentrate storage
(both to be constructed by another contractor) at the Port Facility;
-- mechanical/electrical maintenance facilities; and
-- assay laboratory and other infrastructure to support the Process Plant.
The process plant is designed to process ore at a nominal head grade
of 0.5% Cu and 0.01% Mo with a design maximum head grade of 0.9% Cu
and 0.015% Mo.
Commitments for Cobre Panama are currently in excess of $2.5 billion.
About Cobre Panama
Cobre Panama is 100 percent owned by Minera Panama S.A., an
80-percent owned subsidiary of Inmet. Full details on the project are
available from Inmet's public disclosures on its website at
www.inmetmining.com and SEDAR, including details relating to the
Inmet is a Canadian-based global mining company that produces copper
and zinc. We have three wholly-owned mining operations: Cayeli
(Turkey), Las Cruces (Spain) and Pyhasalmi (Finland). We also have an
80 percent interest in Cobre Panama, a development property in
Panama, currently in construction.
Inmet Mining Corporation
Director, Investor Relations
+1 416 361 4808
Inmet Mining Corporation
President and CEO
Press spacebar to pause and continue. Press esc to stop.