Inmet Mining

Inmet Mining Corporation was a mining company headquartered in Toronto. In 2013, the company was acquired by First Quantum Minerals.

Inmet Mining Corporation
IndustryMining
Founded1987 (1987)
DefunctMarch 22, 2013 (2013-03-22)
FateAcquired by First Quantum Minerals
Headquarters,
Number of locations
Mexico, Peru, Spain, Panama, Chile and Finland
$264 million (2011)

The company held an 18% stake in Ok Tedi Mining Limited. The company had mines in Çayeli, Turkey; Las Cruces, Spain; and Pyhäsalmi, Finland. It was also developing a mine in Cobre Panama, Panama.

History

The company was founded in 1987.

In 1996, the company commissioned the Troilus mill, which began production in 1997.[1] Homestake Mining Company agreed to acquire a majority interest in the mine in 1997 but backed out of the deal.[2] The mine was shut in 2010.[1]

In 2003, the company acquired a mine in Turkey from Teck Resources.[3]

In April 2004, the company agreed to merge with Aur Resources but the transaction was called off in June 2004.[4]

In May 2008, the company took over management of the mine in Petaquilla.[5]

In January 2011, Lundin Mining agreed to combine with the company but in March 2011, the deal was called off after failing to win shareholder support.[6]

In March 2013, First Quantum Minerals acquired the company for C$5.1 billion.[7]

References

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