Navigate this market better. Subscribe for FREE stock alerts and information.

Tuesday, March 29, 2011

Lundin and Inmet terminate deal, (TSE: LUN), (TSE: IMN), (TSE: EQN)

Lundin Mining Corp (LUN.TO) and Inmet Mining (IMN.TO) said on Tuesday they had agreed to walk away from a deal that would have created a C$9 billion copper producer, and Lundin said it was exploring other options. Lundin, part-owner of the massive Tenke-Fungurume copper-cobalt mine in the Democratic Republic of Congo, is also being courted by Equinox Minerals (EQN.TO). Lundin and Inmet said in a joint statement they had mutually decided to terminate the arrangement as they did not believe they could convince both sets of shareholders to agree to the deal.

Source