Reuters reported that Canadian base metal miner Inmet talks with parties interested in buying a stake in its Cobre Panama copper project in Central America are continuing and that there has been no dip in interest despite current global economic concerns.

Mr Jochen Tilk CEO of Inmet said that "We are hopeful that we will be able to conclude something before the end of the year. If it enters 2012 that's not really that critical either."

Mr Tilk said that the company is proceeding with work at the Panamanian mine site as talks continue, ensuring that the project is not delayed. Inmet considers the project which is expected to cost more than USD 5 billion vital to its growth prospects.

He said that the company would rather strike a deal with an experienced mining company than a financial partner as their goals are more likely to be aligned. The project is expected to produce 255,000 tonnes of copper on average, a year over 30 plus year mine life. It is also expected to produce sizable volumes of gold, molybdenum and silver as byproducts.

(Sourced from Reuters)