Shares of Lundin Mining (LUN.TO) rose more than 19 percent on Tuesday, after a British newspaper report cited rumors that mining giant BHP Billiton (BHP.AX)(BLT.L) could be considering a bid. The Daily Telegraph's Tuesday edition said in its market report that Anglo-Australian miner BHP was rumored to be in talks with zinc producer Nyrstar, previously linked to Lundin's Zinkgruvan mine in Sweden, over a joint bid for the group. The report pushed Lundin's shares up 64 Canadian cents to C$5.05 Tuesday morning on the Toronto Stock Exchange. Shares of Lundin have been pummeled in recent months, after a proposed tie-up with Inmet Mining (IMN.TO) fell apart and its hunt for an alternative proposal failed.
Shares of IMN traded higher by 4.21% or $0.3/share to $7.43. In the past year, the shares have traded as low as $7.13 and as high as $12.36. On average, 160637 shares of IMN exchange hands on a given day and today's volume is recorded at 81849.
