Inmet completes basic engineering for Cobre Panama

Inmet Mining, the TSX-listed company developing the $6.2-billion Cobre Panama copper/gold/molybdenum project, on Monday said it had completed basic engineering and launched a financing plan to fully fund its 80% share of development costs. Minera...

Lundin to pursue 'bolt-on' copper, zinc deals

Base metals producer Lundin Mining is rummaging around for acquisitions that could add immediate or near-term copper and zinc production, but it has ruled out any transformational deals after its proposed merger with Inmet Mining fell through last...

Inmet eyes bigger mine at Cobre Panama

Inmet Mining, the Toronto-based miner that saw a 67% drop in fourth-quarter profit to C$48-million, is considering expanding its big Cobre Panama copper project in Central America, but only at a later stage, CEO Jochen Tilk said on Friday. “The...

Inmet Mining posts lower Q4 profit

Canadian base metal miner Inmet Mining said on Thursday its fourth-quarter profit fell 67%, on the back of lower copper and zinc prices. Toronto-based Inmet said its net income in the quarter was C$48-million, or 69 Canadian cents a share, down...

Lundin shares jump on Chinese bid report

Shares in Lundin Mining were up 10% on Friday morning, after a Canadian newspaper reported that a Chinese-led consortium was preparing a takeover bid for the base-metals producer. A group led by Jinchuan Group and including sovereign wealth fund...

Inmet wary of M&A, still hopeful on coal power for Panama copper mine

The heated copper environment at the moment makes it “very difficult” to enter a deal without ending up in some kind of bidding war, and then risk overpaying for an asset, Inmet Mining CEO Jochen Tilk said on Friday. Inmet broke off a merger...

Equinox scoffs at Lundin's 'exploring alternatives'

Copper miner Equinox Minerals, which has a mine in Zambia and a project in Saudi Arabia, ramped up the rhetoric on Wednesday in its bid to woo shareholders of acquisition target Lundin Mining, dismissing the suggestion that Lundin will be able to...

Independent proxy voting firm backs Equinox offer for Lundin

An independent proxy voting firm Institutional Shareholder Services (ISS) has recommended its clients vote in favour of Equinox Minerals’ C$4,8-billion bid for Lundin Mining, at a special meeting on April 11. ISS said Equinox shareholder...

Lundin Mining rejects Equinox offer

Canada’s Lundin Mining has recommended that shareholders reject an unsolicited takeover offer from ASX- and TSX-listed Equinox Mining, saying the offer was too conditional, and “financially inadequate”. The company also said Equinox's asset...

Equinox Q4 earnings rose to $92m from year-ago loss

Equinox Minerals, the copper producer that announced a hostile takeover for rival Lundin Mining, earned $91,98-million in the last three months of 2010, compared with a $27,47-million loss in the same period a year earlier. Equinox operates the...

Equinox formally launches offer for Lundin

TSX- and ASX-listed Equinox Minerals has formally offered to buy shares in Vancouver-based Lundin Mining, the firm said on Monday. The offer, of C$8,10 a share in cash or 1,2903 Equinox shares plus $0,01, will be open until 18:00 on April 24.

Inmet says repealling Panama law won't affect project development

Shares in Inmet Mining fell 4,8% after the company said that the government of Panama will repeal recently enacted legislation that modified the country's mineral resources code. Inmet said the move should not negatively affect its ability to...