TORONTO (miningweekly.com) – TSX-listed Inmet Mining has held talks with Korea Resources Corporation on possible transactions, the firm said on Wednesday, but denied press reports that it had agreed to sell shares to the government-owned South Korean firm.

“While Inmet and Korea Resources have been in discussions concerning a potential transaction including for joint investments in projects, no agreements have been concluded in that regard nor have any intentions been finalised to enter into an agreement at a later date,” Inmet said.

The company plans to enter into a “strategic alliance agreement” with Korea Resources, which will establish a way forward for future cooperation between the two companies in the mining industry.

Inmet has base metals and gold mines in Spain, Turkey, Finland and Canada, as well as a stake in the Ok Tedi mine, in Papua New Guinea. It is also plans to start up its Petaquilla copper project, in Panama, in 2014.

Shares in the Toronto-based firm rose 0,9% on Wednesday, to C$54,68 apiece by 11:08 in Toronto.

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