Inmet Mining Corporation

Inmet finances Cobre Panama under majority ownership

Toronto-based major Inmet Mining has opted to retain its majority interest in the world-class Cobre Panama copper-gold project through development financing, as the company announced a hybrid plan that would see it shoulder the bulk of a US$6.2 billion capital expenditure (capex) requirement aimed at putting the project into production by 2016.

One killed and dozens injured during escalating Panama mining protests

An indigenous Ngöbe-Buglé teenager was killed and 40 people were injured in connection with a police crackdown on dissent over mining and hydroelectric developments in Panama, where Canadian mining companies have a large presence.

Inmet Mining Announces 2011 Production and 2012 Objectives for Operating Mines

TORONTO, CANADA–(Marketwire – Jan. 16, 2012) – Inmet Mining Corporation (TSX:IMN) is pleased to announce its production by operating mine for 2011, and production and cash cost objectives for 2012.

Inmet board approves development of Cobre Panama copper project

The Inmet Mining Board of Directors has approved the development of the Cobre Panama copper-gold-molybdenum project in Panama.

As a result of the development decision Monday, LS-Niko Copper subsidiary, Korea Panama Mining Corp. (KPMC) has to decide whether to exercise its option to acquire a 20% interest in Minera Panama within 60 days.

Image of the Cobre Panama copper project by Inmet Mining

Lundin Mining, Inmet Mining end proposed C$9 billion friendly merger

Lundin Mining and Inmet Mining late Tuesday called it a day regarding their proposed friendly merger with a kindly farewell: "We continue to think very highly of each other's assets and wish each other well."

Equinox bid for Lundin given boost: Financial Post

The bid for a hostile takeover of Lundin Mining by Equinox Minerals was given a boost today by proxy voting firm International Shareholder Services (ISS), The Financial Post reported:

Proxy voting firm Institutional Shareholder Services (ISS) is recommending that Equinox Minerals Ltd.’s shareholders vote in favour of the company’s $4.8-billion hostile takeover bid for Lundin Mining Corp.

Inmet says Panama govt. confirms copper-gold project unaffected by law change

Canada's Inmet Mining said a letter from the Panama government confirmed that its copper-gold project will not be affected by the recent repeal of a law that allowed foreign government investment in mines within the Central American country.

The law is crucial to Inmet, as the company plans to partner with Singapore's state investor Temasek and with Korea Resources Corp to finance and build its $4.3 billion copper-gold project in the country.

Government of Panama confirms commitment to Cobre Panama project

Inmet Mining Corporation (TSX:IMN) (Inmet) announced today that its wholly-owned subsidiary Minera Panama, S.A. (MPSA) has received a letter from His Excellency, the Minister of Industry and Commerce, Roberto Henriquez, that clarifies the Government of Panama's position on the recent repeal of Law 8 of 2011, making it clear that such repeal will not impact the development of mining projects in Panama, such as the Cobre Panama project, that currently have a contract law in place in respect of their concessions.

Lundin tells shareholders to rejects Equinox bid

Lundin Mining has rejected the hostile takeover bid mounted last month by Australia-based Equinox Minerals. Canadian Press reported Sunday that Lundin told its shareholders to reject a debt-financed takeover bid from Equinox, saying the unsolicited offer was "financially inadequate" and fraught with risks:

Vancouver-based Lundin (TSX:LUN) said the Equinox (TSX: EQN) bid undervalued the company and would place considerable influence over business decisions in the hands of lenders.

'Significant risk' associated with Equinox offer, Inmet says

Inmet Mining is holding firm on the proposed friendly merger with Lundin Mining, saying there are significant risks associated with the hostile Equinox offer for Lundin announced last week.

Inmet continues to believe the proposed merger of equals between Inmet and Lundin to create Symterra provides superior benefits to shareholders of both Inmet and Lundin without the risks associated with the Equinox offer, Inmet stated on Thursday.

Equinox could sell Lundin assets to cut debt: Bloomberg

Equinox Minerals would consider selling some of Lundin Mining's assets in order to clear off debt, the company's CEO said in a conference call to analysts on Thursday. Equinox has bid CAD$4.8 billion in a challenge to Inmet Mining's friendly merger with Lundin, but needs a $3.2 billion bridge loan, according to the story by Bloomberg.

“We would consider asset sales in the context of non-core, non-copper assets,” Craig Williams, chief executive of the Perth-based company, said today. Equinox may sell Lundin’s Zinkgruvan zinc mine in Sweden, he said.

Equinox commences offer to acquire Lundin

Equinox Minerals Limited (TSX and ASX: EQN) ("Equinox" or the "Company") advises that it has commenced its previously announced offer (the “Offer”) to acquire Lundin Mining Corporation ("Lundin"). The Offer will remain open until 6:00pm on April 14, 2011 unless withdrawn or extended.

Inmet, Lundin shareholders given two more weeks to review Equinox bid

Shareholders of Lundin Mining Corp. and Inmet Mining Corp. will have two more weeks before they are asked to vote on a friendly merger of the two entities.

Canadian Press said the posptponement of the shareholder meetings, from March 14 to March 28, was decided on the weekend after a hostile takeover bid was announced last week by Equinox Minerals:

The reason for the postponement is to allow time for shareholders to receive and review the recommendation of the board of directors in relation to the Equinox (TSX:EQN) bid, Lundin said Sunday in a news release.

Inmet Mining down 7% after Panama government announces law repeal

Inmet Mining (TSE:IMN) was down 7.41% to Can$64 on Friday after the Government of Panama announced that it will repeal recently enacted legislation, known as Law 8, that modifies the Panamanian mineral resources code.

The price drop complicates the company's proposed merger with Lundin Mining. In Jan. 2011, Inmet and Lundin Mining announced a merger that would create Canada's largest base metal producer. However, Equinox Minerals launched a hostile bid for Lundin in late February.

Panamanian government indicates intent to repeal modified mineral resources code; contract-law 9 unaffected

Inmet Mining Corporation (TSX:IMN) announced today that the government of Panama intends to repeal recently enacted legislation, known as Law 8, that modified the Panamanian mineral resources code. The intent to repeal Law 8 recognizes concerns from indigenous communities residing within areas known as Comarcas that are recognized under Panamanian law. Inmet's Cobre Panama project is neither situated on nor adjacent to any Comarcas, and has had government and local community support.

Equinox Minerals to launch hostile bid for Lundin Mining

Equinox Minerals Ltd. will make a hostile bid for Lundin Mining prior to the markets opening Monday morning, Vancouver-based Lundin announced in a news release on Sunday.

"Lundin is not aware of the terms of the bid. Until Lundin Mining completes its review of the bid, it will not comment on the proposal," the release stated. "The Board of Directors of Lundin will update shareholders from time to time following receipt and consideration of the bid. Shareholders do not need to take any action in response to the bid at this time."

The unsolicited takeover attempt could thwart the proposed merger between Lundin and Inmet Mining Corp. made public in January.

National Assembly repeals law, clearing way for Cobre Panama mine

Panama’s National Assembly has repealed a law blocking foreign investment in mining, which will permit the development of Inmet Mining’s Cobre Panama copper project.

Inmet, Lundin agree to C$9bn merger into Symterra

Two Canadian miners, Inmet and Lundin, have agreed to an all-share merger that will create Canada's second largest base and industrial metals mining company, Symterra.

Used equipment from Cayeli Bakir Isletmeleri A.S. (Inmet Mining Corporation)

Equipment includes Atlas Copco Boomer 282, Tamrock Solomatic Long Hole Drill, Volvo A35 Articulated Dump Truck, Tamrock EJC 430 Fuel Truck, 17' x 5' Aerofall Mill & 11' x 18-8" Ball Mill and Continuous Monocable Ropeway System

Inmet resumes mining at Las Cruces copper project in Spain

Inmet resumes mining at Las Cruces copper project in Spain 29/04/2009 12:40 PM TORONTO – Inmet Mining Corp.