Inmet Mining Corporation

Inmet Mining Corporation

September 14, 2009 08:45 ET

Inmet Mining Announces Termination of Discussions for Potential Transaction with Korea Resources Corporation

TORONTO, ONTARIO--(Marketwire - Sept. 14, 2009) - Inmet Mining Corporation (Inmet) (TSX:IMN) confirmed today that it has been in discussions with Korea Resources Corporation (KORES) and another party concerning a potential transaction under which the other party would have, with financial support from KORES, acquired a minority equity interest in Inmet. An option to invest in Minera Panama, S.A., owner of the Mina de Cobre Panama (formerly Petaquilla) copper project was also the topic of the discussions.

While Inmet and KORES will endeavour to continue their relationship through their recently executed alliance agreement, they, together with the other party, have decided at this time to terminate their discussions concerning the potential transaction.

Forward looking information

Securities regulators encourage companies to disclose forward-looking information to help investors understand a company's future prospects. This press release contains forward-looking information. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements usually include words such as may, expect, anticipate, and believe or other similar words. Capital and operating cost estimates are forward-looking statements, and are based on assumptions that we believe to be reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our respective business or events that happen after the date of this press release. You should not place undue reliance on forward-looking statements.

About Inmet

Inmet is a Canadian-based global mining company that produces copper, zinc and gold. We have interests in five mining operations in locations around the world: Çayeli, Las Cruces, Pyhasalmi, Troilus and Ok Tedi. We also have a 100 percent interest in the Mina de Cobre Panama development property in Panama.

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Contact Information

  • Inmet Mining Corporation
    Jochen Tilk
    President and Chief Operating Officer
    (416) 860-3972