Inmet Mining Corporation

Inmet Mining Corporation

July 10, 2008 08:22 ET

Las Cruces Experiences Ground Movement at Process Residue Storage Facility

TORONTO, ONTARIO--(Marketwire - July 10, 2008) - Inmet Mining Corporation (TSX:IMN) announced today that an unexpected ground movement has occurred at the newly constructed storage facility for the dried residues from the process plant at the Las Cruces project in Spain. The facility is not yet commissioned and no residue is stored in the facility at present. There were no injuries associated with and no environmental impact resulting from the event.

Management at Las Cruces has mobilized the project's external geotechnical and other senior experts to commence an investigation of the cause of the event. In addition, officials of the Andalucian mining authority have been notified of the event.

The extent of any delay in the project schedule that may result from the event cannot be conclusively determined until the investigation is fully completed and the cause of the event is identified. We expect the investigation may take several weeks or more to complete.

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 four mining operations in locations around the world: Cayeli, Pyhasalmi, Troilus and Ok Tedi. We also have interests in three development properties, Las Cruces, Cerattepe and Petaquilla.

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Contact Information

  • Inmet Mining Corporation
    Richard Ross
    Chairman and Chief Executive Officer
    (416) 860-3974
    Inmet Mining Corporation
    Jochen Tilk
    President and Chief Operating Officer
    (416) 860-3972