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First Quantum offers $5 billion for Inmet Mining

Wednesday, December 19, 2012

Vancouver-based First Quantum Minerals has renewed its ambitions to become a top-tier copper producer by launching a new, unsolicited $5.1-billion bid to take over copper-mining rival Inmet Mining.

On Sunday, First Quantum announced its intent to proceed with a hostile offer for the company, touting the combined entity as potentially "one of the world's five largest copper producers with a leading growth profile."

And First Quantum would go from being a significant producer with a flagship mine in Zambia to a major producer.

Source: Canadian Press