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Inmet Mining’s Cobre Panama in $9 billion merger

Friday, January 14, 2011

Canadian miners Inmet Mining and Lundin Mining have agreed to a blockbuster $9 billion merger to create a leading global copper company that is poised for much more growth.

Inmet's key growth prospect is the Cobre Panama project in Panama, a massive development that will require billions in capital expenditures.

The all-stock deal, announced Wednesday night, combines Inmet's flagship assets in Spain and Panama with Lundin's in Western Europe and the Democratic Republic of the Congo. The combined company is to be called Symterra Corp.

Original source: National Post