Lundin Mining (LUN.TO) said that it had rejected proposals from suitors for the sale of all or part of the company as being inadequate and that Chief Executive Phil Wright would resign in a month, ending a three-month review of its alternatives. Paul Conibear is to take charge as interim CEO from June 30 until a successor is found, the diversified metals miner said in a statement. The company said it would continue to develop its assets and look for growth opportunities. Lundin began to look at strategic options after a proposed C$9 billion tie-up with Canadian rival Inmet Mining (IMN.TO) fell apart in March.
Shares of IMN traded higher by 0.88% or $0.08/share to $9.17. In the past year, the shares have traded as low as $8.41 and as high as $12.36. On average, 161076 shares of IMN exchange hands on a given day and today's volume is recorded at 137390.
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