VANCOUVER – First Quantum Minerals says it has successfully taken over Inmet Mining Corp. with 92.74% of the outstanding Inmet shares tendered to First Quantum. More than 65.2 million Inmet shares are now in First Quantum's portfolio.
First Quantum's offer for Inmet has now expired, and the remainder of the Inmet shares will be subject to compulsory acquisition.
The plum Inmet holding is the Cobre Panama copper development project, slated to begin production in 2016. Complete information about the project is currently available at InmetMining.com.