SALE: Inmet sheds 18% interest in Ok Tedi mine

PAPUA NEW GUINEA - Inmet Mining of Toronto has sold its 18% interest in Ok Tedi copper-gold mine in the Star Mountains. Rather than trade its equity interest for a 5% net smelter royalty, Inmet has accepted a payment of US$335 from Ok Tedi Mining Ltd. After taxes, the net amount is estimated to be US$307 million.

In the first nine months of 2010 the Ok Tedi mine produced 114,000 tonnes of copper and 355,400 oz of gold.

For information about Inmet's other mines and projects, please see www.InmetMining.com.