Singapore’s sovereign wealth fund (SWF), Temasek, has closed a $510 million deal with Inmet Mining. The deal will give Temasek unit, Ellington Investments, nearly an 11% stake in the Canadian base metal miner. Ellington has swapped previously issued subscription receipts for about 7.78 million Inmet common shares. The move increases the number of issued and outstanding Inmet common shares to 69.3 million. Inmet will use the sale proceeds for the development of the Cobre Panama project and for general corporate purposes.
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