Lundin Mining Corp (LUN.TO), part-owner of the massive Tenke-Fungurume copper-cobalt mine in the Democratic Republic of Congo, may walk away from a bid from by Inmet Mining (IMN.TO), and could seek another buyer. The proposal, dating from January, would create a C$9 billion Canadian copper miner called Symterra, a company that could produce some 500,000 tonnes of copper per year by 2017. But shareholders said Lundin, which is also being courted by rival Equinox, might now argue that Inmet faces extra costs to develop its Cobre Panama project, and that's a "material adverse event" that could let Lundin walk away from the deal.
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