Vancouver

Brenda Bouw
RTGAM



Vancouver - Equinox Minerals Ltd. is planning to make a hostile bid for Lundin Mining Corp. that could thwart its proposed merger with Inmet Mining Corp.

Vancouver-based Lundin said in a release Sunday that Equinox, a copper miner listed in both Toronto and Australia, intends to make an unsolicted take-over offer before markets open on Monday.

"Lundin is not away of the terms of the bid," the company stated. "Until Lundin Mining completes its review of the bid, it will not comment on the proposal."

Lundin said its board will update shareholders when it receives and considers the Equinox offer. It said shareholders don't need to take any action.

Shareholders of both Lundin and Toronto-based Inmet are scheduled to vote on their proposed merger at meetings scheduled for March 14.

Lundin and Inmet proposed a "merger of equals" in January to create a Canadian-based copper powerhouse with a combined market capitalization of more than $9-billion, to be called Symterra Corp.