First Quantum delays update on Cobre Panama copper project

|About: First Quantum Minerals Ltd. (FQVLF)|By:, SA News Editor

First Quantum Minerals (FQVLF -2.5%) says it will delay the release of a full update on its Cobre Panama copper project to Q1 2014, saying it needs to "correct a number of acquired technical and logistical shortcomings" in the project development plan.

Before being taken over by First Quantum earlier this year, Inmet had pegged the capital cost of developing the project at $6.2B; in its bid for Inmet, First Quantum had cited its project development expertise as a rationale for the combination.