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Canadian base metals miner Inmet Mining Corp. (IMN-T) agreed to acquire Leucadia National Corp.'s (LUK-N) 30 percent indirect equity interest and subordinated sponsor loans in the Cobre Las Cruces copper mine for $552 million US, taking its stake in the mine to 100 percent.
The purchase consideration will comprise $150 million cash and $330 million in common shares of Inmet, which currently owns 70 percent of the mine.
Leucadia will be released from its guarantee on $72 million debt owed by