Lundin Mining (LUN.TO) and Inmet Mining (IMN.TO) have agreed to join forces to create a C$9 billion ($9.1 billion) company called Symterra Corp, in the latest of a series of deals involving Canadian miners. Shares of Lundin surged 7 percent in Toronto to close at a 2-1/2 year high before the deal was announced Wednesday evening.The combination will create a sizable copper, zinc, and nickel producer, with potential copper production of more than 500,000 tonnes a year by 2017, a cash balance of $1.3 billion and no debt, they said.
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