The combination of Lundin Mining (LUN.TO) and Inmet Mining (IMN.TO) will create a new Canadian copper miner with the heft to compete effectively against the industry's giants as the global recovery gains traction. The deal, announced after market close on Wednesday, will create Symterra Corp, 52.6 percent owned by Inmet shareholders and led by Inmet Chief Executive Jochen Tilk. The "merger of equals" comes at a time when the price of the industrial metal is on a record run. Demand for copper, used in everything from construction to power, is especially strong in rapidly urbanizing countries like China and India.
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