* Q4 EPS C$2.53 vs C$1.60 a yr-ago
* Sales rise 9 pct to C$318.1 mln
TORONTO Feb 23 Inmet Mining IMN.TO said on
Wednesday its fourth-quarter profit rose on the back of higher
copper prices and strong results from its Las Cruces copper
mine in Spain.
The Canadian miner said net income in the quarter ended
Dec. 31 rose to C$144.5 million ($146 million), or C$2.53 a
share, compared with a year-ago profit of C$89.8 million, or
C$1.60 a share.
Inmet and rival Lundin Mining (LUN.TO) announced plans to
merge last month, creating a Canadian copper mining major
called Symterra, worth roughly C$9 billion. Shareholders of
both companies are scheduled to vote on the proposed deal on
Inmet said sales in the quarter rose 9 percent to C$318.1
million, as increased copper production more than offset the
impact of lower zinc and gold output.
The company said it expects copper and zinc production in
2011 to be roughly flat at 94,000 tonnes and 81,000 tonnes
(Reporting by Euan Rocha; editing by Rob Wilson)