TORONTO, Dec 10 (Reuters) - The revised capital costestimate and project schedule for First Quantum Minerals' Cobre Panama copper project in Central America is takingslightly longer than expected and is now likely to be completedin early 2014, the company said on Tuesday.
Vancouver-based First Quantum, which bought the huge copperproject in Panama via its C$5.1 billion ($4.8 billion) takeoverof rival Inmet Mining this year, had promised to outline arevised estimate and schedule before the end of the year.
"The update on the Cobre Panama project early in 2014 willbe the culmination of a comprehensive review and re-engineeringof all aspects of the project's development," said First QuantumChief Executive Philip Pascall in a statement. "We had intendedto publish the update earlier, however we have had to correct anumber of acquired technical and logistical shortcomings so itis taking slightly longer than anticipated."
Shares in First Quantum fell 2.2 percent to C$17.16 in earlytrading on the Toronto Stock Exchange.
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