The Financial Post reported that First Quantum Minerals Ltd. plans to enter a $5.1-billion hostile bid for Inmet Mining Corp. after friendly negotiations have failed.
As quoted in the market report:
For First Quantum, this offer is all about Inmet’s Cobre Panama project, one of the world’s richest undeveloped copper assets. Inmet has estimated that Cobre Panama will cost US$6.2-billion to build, but First Quantum is confident it can do it for a lot less.
