VANCOUVER - LUNDIN MINING and TENKE MINING finalized their business combination on July 3, 2007. All Tenke common shares will now be exchanged on the basis of 1.73 Lundin common shares plus Cdn$0.001 cash for each Tenke common share.
Tenke's South American assets and US$5-million have been conveyed to a new company, SURAMINA RESOURCES INC. Common shares of Suramina will be distributed to Tenke shareholders, on a one-for-one basis. Suramina were to begin trading on the Toronto Stock Exchange at the market opening on July 5 under the symbol SAX. The CUSIP number of Suramina is 868 650 102. The common shares of Tenke were delisted at the close of business on July 4.
Paul Conibear, currently president of Tenke, will be president and CEO of Suramina and will join Lundin Mining as senior VP projects.