Inmet is a Canadian-based global mining company that produces copper, and zinc. We’re active in production, development and exploration — three key components to delivering sustainable growth and long-term value for our shareholders.
An underground copper and zinc mine in northeastern Turkey
Our open-pit copper mine in southern Spain
An underground copper and zinc mine in central Finland
An open-pit copper project in Panama in the development phase
Our strategy is to grow responsibly as a base metal mining company, providing superior returns to our shareholders. This strategy has served us well and continues to deliver excellent results.
Our strategy is supported by three goals. These guide our planning, and help us set objectives and measure our success.
- Long-term responsible growth
- Superior returns
- Base metal mining
Our financial objective is to ensure we have the cash and debt capacity to support our strategy to grow responsibly as a base metal mining company, providing superior returns to shareholders.
Our strategy is to ensure that we have sufficient liquidity in the form of cash and committed credit facilities to finance our operating requirements and the growth projects we have identified. We manage our debt levels by ensuring that, even at the low point in the metal price cycle, our operations can provide adequate debt coverage.
Key financial measures
We use the following key financial measures to assess our financial condition and liquidity:
(1) Gross debt includes long-term debt and the current portion of long-term debt
(2) Net debt (net cash) is a non-GAAP measure defined as long-term debt less cash and short-term investments, including bonds and other securities.
December 31, 2012
December 31, 2011
||8.4 to 1
||9.3 to 1
|Net working capital balance
|Cash balance (including bonds and other securities; millions)
| Net debt (net cash)(2)
| Shareholders’ equity attributable to Inmet shareholders
Number of employees
1,386 and 910 contractors.
We currently pay a cash dividend of $0.10 per common share to our shareholders on June 15 and December 15 each year.
Stock exchange listing
Inmet's common shares trade on the Toronto Stock Exchange (TSX) under the stock symbol IMN.
As at December 31, 2012 and February 21, 2013 we had 69,365,748 issued and outstanding common shares.
How to reach us
Inmet Mining Corporation
330 Bay Street
Canada M5H 2S8
e-mail investor relations
CIBC Mellon Trust Company
c/o Canadian Stock Transfer Company Inc.
T Answer Line™ +1.416.682.3860
or toll free in North America +1.800.387.0825