Inmet Mining
 | |
| Industry | Mining |
|---|---|
| Founded | 1987 |
| Defunct | March 22, 2013 |
| Fate | Acquired by First Quantum Minerals |
| Headquarters | , |
Number of locations | Mexico, Peru, Spain, Panama, Chile and Finland |
| $264 million (2011) | |
Inmet Mining Corporation was a mining company headquartered in Toronto. In 2013, the company was acquired by First Quantum Minerals in a hostile takeover.
The company held an 18% stake in Ok Tedi Mining Limited. The company had mines in Çayeli, Turkey; Las Cruces, Spain; and Pyhäsalmi, Finland. It was also developing a mine in Cobre Panama, Panama.
History
[edit | edit source]The company was founded in 1987.
In 1996, the company commissioned the Troilus mill, which began production in 1997.[1] Homestake Mining Company agreed to acquire a majority interest in the mine in 1997 but backed out of the deal.[2] The mine was shut in 2010.[1]
In 2003, the company acquired a mine in Turkey from Teck Resources.[3]
In April 2004, the company agreed to merge with Aur Resources but the transaction was called off in June 2004.[4]
In May 2008, the company took over management of the mine in Petaquilla.[5]
In January 2011, Lundin Mining agreed to combine with the company but in March 2011, the deal was called off after failing to win shareholder support.[6]
In March 2013, First Quantum Minerals acquired the company for C$5.1 billion in a successful hostile takeover bid.[7]
References
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