Inmet Mining (IMN.TO) said on Wednesday its fourth-quarter profit rose on the back of higher copper prices and strong results from its Las Cruces copper mine in Spain. The Canadian miner said net income in the quarter ended Dec. 31 rose to C$144.5 million ($146 million), or C$2.53 a share, compared with a year-ago profit of C$89.8 million, or C$1.60 a share. Inmet and rival Lundin Mining (LUN.TO) announced plans to merge last month, creating a Canadian copper mining major called Symterra, worth roughly C$9 billion. Shareholders of both companies are scheduled to vote on the proposed deal on March 14.
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