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SNC-Lavalin gets approval for work on Inmet’s US$6.2-billion copper mine
By Financial Post · May 23, 2012 · 1:06 am · Leave a Comment
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MONTREAL — SNC-Lavalin Inc. has received the green light to go ahead with work on a mining contract worth about US$355-million in fees for a group led by the Montreal-based engineering and construction giant.
The overall cost of the Cobre Panama copper project in Panama will be about US$6.2-billion, including US$3.2-billion of infrastructure to be overseen by the SNC joint venture group.
SNC has a 70% interest in the joint venture and is partnered by GyM S.A., a member of Grana y Montero Group, and Techint International Construction Corp., each with a 15% interest.
The contract is with Minera Panama S.A., a subsidiary of Toronto-based Inmet Mining Corp., to provide detailed engineering, procurement and construction management services for the project infrastructure component of the project.
