Watch Live


Inmet Rejects First Quantum Bid After Allowing Due Diligence

Inmet Mining Corp. (IMN), the developer of the Cobre Panama copper project, reiterated its rejection of a C$5.1 billion ($5 billion) offer from First Quantum Minerals Ltd. (FM) for being too low.

Inmet granted First Quantum full access to carry out due diligence, the Toronto-based company said today in a statement. Inmet said it will continue to seek a sale of a minority stake in Cobre Panama.

To contact the reporter on this story: Sonja Elmquist in New York at

To contact the editor responsible for this story: Simon Casey at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.