Miner First Quantum wraps up Inmet deal

Our reporter Cathy Adams:

Canadian miner First Quantum today closed in on its hostile takeover of Inmet, as it secured enough shareholder support to push the C$5.1bn (£3.3bn) deal through.

First Quantum said in a statement today that 85.5 per cent of Inmet shareholders had been tendered to the offer.

The takeover will hand First Quantum control of the $6.2bn Cobre Panama copper deposit, one of the largest undeveloped projects not in the hands of a mining major.

(Full article)