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Wednesday, January 12, 2011

Inmet, Lundin to form C$9 bln copper producer, (TSE: LUN), (TSE: IMN)

Lundin Mining (LUN.TO) and Inmet Mining (IMN.TO) have agreed to join forces to create a C$9 billion ($9.1 billion) copper producer, forging the latest in a series of deals involving Canadian miners. Following the all-share transaction, current Inmet shareholders will hold 52.6 percent of the combined company, to be called Symterra Corp, and Inmet's chief executive will take the helm. Shares of Lundin surged 7 percent in Toronto to close at a 2-1/2 year high before the deal was announced Wednesday evening.

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