Panama
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Inmet Quits Petaquilla Project

Bnamericas
Canada's Inmet is terminating its participation in the Petaquilla copper project in Panama due to the metal's low price, Inmet announced. The company registered US$130.2mn fourth-quarter 1997 losses.

Inmet CEO Bill James declined to comment on the prices' effect on its 50% share in the Antamina copper-zinc project in Peru, which the company is developing with Canada's Rio Algom.

Rio Algom, which also has mining operations in Argentina and Chile, expects to increase production by 50% this year.

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