Inmet Mining Merges with Lundin

The owner of copper mining project Panama Cobre (Minera Panama SA), Inmet Mining Corp., merged with Lundin Mining Corp.

Thursday, January 13, 2011

The new company will be called Symterra and will focus on the exploitation of copper, having potential production of 500.000 tons of copper a year.

Inmet owns mining assets in Spain and Panama, while Lundin has them in Western Europe and Congo.

The merger is valued at $ 9 billion.

More on this topic

Inmet and Lundin Mining Cancel Merger

April 2011

Inmet Mining Corp, owner of the copper mining project “Panama Cobre” (Minera Panama S.A.), canceled its merger plans with Lundin.

The companies failed to have the agreement approved by the shareholders of both corporations.

“Back in March, executives from Inmet had announced that this association assured Inmet the funding required to develop the 13.000 hectares copper project”, reported

Inmet Mining Presents Copper Mine Project to Local Authorities

January 2010

"Minera Panama", a subsidiary of Canadian corporation Inmet Mining, presented its cooper mining project to the technical council of the province of Colón.

The project, dubbed "Panama Cobre", would be located in Coclé del Norte, Donoso district, and would require an investment of $3.5 billion.

Panama: Korean Mining Company Will Invest in Copper Project

October 2009

Korean company LS-Nikko could invest up to $260 million in copper mining project "Cobre Panama".

LS-Nikko signed an option agreement with Canadian company Inmet Mining Corp, owner of the project. Under the agreement, LS-Nikko will have the option to acquire between 20% and 30% of the copper mining project "Cobre Panama" (Minera Panama S.A.), depending on how much it invests in it.

"Cobre Panama" Copper Mining Project for 2014

October 2009

Inmet Mining, owner of the copper mining project "Panama Cobre" plans to complete construction in 2014.

Environmental studies would be ready in the first quarter of 2010, and detailed engineering would begin mid-2010.

According to, "The company has completed a drilling programme on the project, and is compiling the data it will need for mineral resource and reserve statements", which Inmet estimates at 150.000 t/d throughput rate for 30 years.

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