# Inmet Mining

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{{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](/source/First_Quantum_Minerals)
| hq_location_city    = [Toronto, Ontario](/source/Toronto%2C_Ontario)
| hq_location_country = [Canada](/source/Canada)
| num_locations       = [Mexico](/source/Mexico), [Peru](/source/Peru), [Spain](/source/Spain), [Panama](/source/Panama), [Chile](/source/Chile) and [Finland](/source/Finland)
| industry            = [Mining](/source/Mining)
| net_income          = $264 million (2011)
}}
'''Inmet Mining Corporation''' was a mining company headquartered in [Toronto](/source/Toronto). In 2013, the company was acquired by [First Quantum Minerals](/source/First_Quantum_Minerals) in a [hostile takeover](/source/hostile_takeover).

The company held an 18% stake in [Ok Tedi Mining Limited](/source/Ok_Tedi_Mining_Limited). The company had mines in [Çayeli](/source/%C3%87ayeli), [Turkey](/source/Turkey); Las Cruces, [Spain](/source/Spain); and [Pyhäsalmi](/source/Pyh%C3%A4salmi), [Finland](/source/Finland). It was also developing a mine in Cobre Panama, [Panama](/source/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](/source/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](/source/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](/source/CNW_Group) | date=April 8, 2014}}</ref>

In 2003, the company acquired a mine in Turkey from [Teck Resources](/source/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](/source/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](/source/The_Globe_and_Mail) | date=June 29, 2004}}</ref>

In May 2008, the company took over management of the mine in [Petaquilla](/source/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](/source/The_Globe_and_Mail) | date=May 14, 2008}}</ref>

In January 2011, [Lundin Mining](/source/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](/source/The_Canadian_Press) | publisher=[CBC News](/source/CBC_News) | date=March 30, 2011}}</ref>

In March 2013, [First Quantum Minerals](/source/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](/source/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

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Adapted from the Wikipedia article [Inmet Mining](https://en.wikipedia.org/wiki/Inmet_Mining) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Inmet_Mining?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.