Transaction|January 12, 2011
Inmet Mining and Lundin Mining announce C$9 billion merger
Torys acted as counsel to Inmet Mining with a team that included Chris Fowles, Christina Medland, Jay Holsten, Peter Jewett, Andy Beck, Peter Keenan, John Unger, Andrew Gray, Michael Fortier, Dean Kotwal, Victoria Blond, Sue-Anne Fox, Leslie McCallum, Ari Feder and Joanne Nardi.
On January 12, 2011, Inmet Mining Corporation (Inmet) (TSX: IMN) and Lundin Mining Corporation (Lundin) (TSX: LUN) (OMX: LUMI) announced that they have entered into an arrangement agreement (the agreement) to merge, and create Symterra Corporation, a leading global copper company. The transaction is valued at approximately C$9 billion. The combined company has the potential to produce 500,000 tonnes of copper a year by 2017 at very low costs.
On March 29, 2011, Inmet Mining and Lundin Mining announced that they terminated the proposed merger agreement.
Inmet Mining, headquartered in Toronto, is a global mining company that produces copper, zinc and gold. The Company has operations in Turkey, Spain, Finland, an interest in a project in Papua New Guinea and a copper development project in Panama.
Lundin Mining, headquartered in Toronto, is a diversified base metals mining company that produces copper, zinc, lead and nickel. The company has operations in Portugal, Sweden, Spain and Ireland, and an equity stake in a project in the Democratic Republic of Congo.
Further information about the termination is found on Inmet's website.
On March 29, 2011, Inmet Mining and Lundin Mining announced that they terminated the proposed merger agreement.
Inmet Mining, headquartered in Toronto, is a global mining company that produces copper, zinc and gold. The Company has operations in Turkey, Spain, Finland, an interest in a project in Papua New Guinea and a copper development project in Panama.
Lundin Mining, headquartered in Toronto, is a diversified base metals mining company that produces copper, zinc, lead and nickel. The company has operations in Portugal, Sweden, Spain and Ireland, and an equity stake in a project in the Democratic Republic of Congo.
Further information about the termination is found on Inmet's website.