{{Redirect|Inmet|the Brazilian meteorological agency|National Institute of Meteorology}} {{Infobox company | name = Inmet Mining Corporation | logo = Inmet Logo|175px | founded = {{start date and age|1987}} | defunct = {{end date and age|2013|03|22}} | fate = Acquired by First Quantum Minerals | hq_location_city = Toronto, Ontario | hq_location_country = Canada | num_locations = Mexico, Peru, Spain, Panama, Chile and Finland | industry = Mining | net_income = $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== The company was founded in 1987.
In 1996, the company commissioned the Troilus mill, which began production in 1997.<ref name=copperone/> Homestake Mining Company agreed to acquire a majority interest in the mine in 1997 but backed out of the deal.<ref>{{Cite news | url=https://www.theglobeandmail.com/report-on-business/inmet-wins-bc-court-decision-against-homestake/article18436751/ | title=Inmet wins B.C. court decision against Homestake | work=The Globe and Mail | date=November 17, 2003}}</ref> The mine was shut in 2010.<ref name=copperone>{{cite press release | url=https://www.newswire.ca/news-releases/copper-one-acquires-past-producing-troilus-mine-from-first-quantum-minerals-514052861.html | title=Copper One acquires past producing Troilus Mine from First Quantum Minerals | publisher=CNW Group | date=April 8, 2014}}</ref>
In 2003, the company acquired a mine in Turkey from Teck Resources.<ref>{{cite news | url=https://www.theglobeandmail.com/report-on-business/inmet-to-buy-tecks-turkish-unit/article25283266/ | title=Inmet to buy Teck's Turkish unit | work=The Globe and Mail | date=April 29, 2003}}</ref>
In April 2004, the company agreed to merge with Aur Resources but the transaction was called off in June 2004.<ref>{{cite news | url=https://www.theglobeandmail.com/report-on-business/aur-inmet-call-off-merger/article1134764/ | title=Aur, Inmet call off merger | first=WENDY | last=STUECK | work=The Globe and Mail | date=June 29, 2004}}</ref>
In May 2008, the company took over management of the mine in Petaquilla.<ref>{{cite news | url=https://www.theglobeandmail.com/report-on-business/inmet-takes-reins-at-petaquilla-project/article1055415/ | title=Inmet takes reins at Petaquilla project | work=The Globe and Mail | date=May 14, 2008}}</ref>
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.<ref>{{cite news| url=https://www.cbc.ca/news/business/lundin-and-inmet-call-off-9b-mining-merger-1.1038032 | title=Lundin and Inmet call off $9B mining merger | agency=The Canadian Press | publisher=CBC News | date=March 30, 2011}}</ref>
In March 2013, First Quantum Minerals acquired the company for C$5.1 billion in a successful hostile takeover bid.<ref>{{Cite news | url=https://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/cobre-panama-beckons-as-first-quantum-seals-inmet-takeover/article10159606/ | title=Cobre Panama beckons as First Quantum seals Inmet takeover | first=Pav | last=Jordan | work=The Globe and Mail | date=March 22, 2013}}</ref>
==References== {{Reflist|1}}
Category:1987 establishments in Ontario Category:2013 mergers and acquisitions Category:Companies formerly listed on the Toronto Stock Exchange Category:Defunct mining companies of Canada