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To: JakeStraw who wrote (76001)4/29/2009 2:08:13 PM
From: MicawberRespond to of 118717
 
UPDATE 1-Inmet resumes mining at Las Cruces project in Spain

Wed Apr 29, 2009 8:55am EDT
* Mining operations resumes at Las Cruces project

* Expects production of first copper cathode in June

April 29 (Reuters) - Canadian miner Inmet Mining Corp (IMN.TO: Quote, Profile, Research, Stock Buzz) said it resumed mining operations at its Las Cruces project on Wednesday, after receiving final approval from the Andalucian Regional Ministry of Innovation, Science and Business (CICE).

The Spain-based copper producing project had been hit by delays in securing water permits.

The company said commissioning of the process plant has been completed and it expects the mine to produce its first copper cathode during the first week in June.

Inmet Mining shares, which have gained 87 percent year-to-date, closed at $36.70 Tuesday on the Toronto Stock Exchange. (Reporting by R. Manikandan in Bangalore; Editing by Anil D'Silva)

Note: LUK owns 12% of Inmet as well as 30% of Las Cruces itself. Inmet up 12% today.