Wednesday 12th December 2018

Resource Clips

Inmet and Lundin announce $9B merger

Inmet Mining Corporation IMN:CA and Lundin Mining Corporation LUN:CA announced that they have entered into an agreement to merge, creating Symterra Corporation. The transaction is valued at approximately $9 billion. The number of issued and outstanding shares of each party that will be exchanged for common shares of Symterra is expected to be 61,549,172 for Inmet and 580,745,911 for Lundin. The exchange ratio represents no premium to either party.

Lundin Chairman Lukas Lundin commented, “The long-term fundamentals for copper are compelling. With solid operating assets and the ability to fund its world class growth projects, Symterra provides one of the best growth profiles for copper amongst major mining companies, combined with attractive exposure to zinc and other metals.” Inmet President/CEO Jochen Tilk added, “Symterra will have a series of long-life, low cost mines in favourable mining jurisdictions and two world class growth projects in Cobre Panama and the expanded Tenke Fungurume. The increased critical mass enables us to not only develop our current projects, but also to compete for future opportunities as they arise.”

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Inmet Mining Corporation
Flora Wood
Director, Investor Relations

or Lundin Mining Corporation
John Miniotis
Senior Business Analyst

by Ted Niles

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