DOW JONES NEWSWIRES Inmet Mining Corp. (IMN.T) and an affiliate are buying the 30% stake of Leucadia National Corp. (LUK) and its affiliate in the Cobre Las Cruces copper mine in Spain for US$552 million, Inmet Mining said Tuesday. This will make Las Cruces 100%-owned by Inmet Mining. The purchase price comprises US$150 million in cash and US$330 million in common shares of Inmet. In addition, Leucadia will be released from its guarantee on a US$72 million debt owed by Las Cruces to an affiliate of Inmet as a result of the re-financing of the project facility in 2009. The deal is expected to be closed on or by Dec. 31, and is subject to approval of the TSX.
