Equinox Minerals, Lundin Mining and Inmet Mining All Higher Early Tuesday Afternoon
Equinox Minerals Ltd. (EQN.TO), which makes most of its corporate decisions in Perth, Australia, is up 5 cents at $5.78 amid reports it may avoid a foreign investment review by the Canadian government because it's based in Toronto.
More than 8.3 million EQN shares have traded.
BHP's proposed acquisition of Potash Corp (POT.TO) was blocked last year by the Canadian government.
Equinox, which incorporated in Canada in 2004, in recent days moved to buy Toronto-based Lundin Mining Corp. for $4.8 billion, a move that might stump Lundin's plans to merge with Inmet Mining (IMN.TO).
LUN is up 3% at $7.88 (with more than 6.3 million shares traded) while Inmet is up 49 cents at $67.30.
Equinox's legal advisers reportedly said the bid won't fall under the Investment Canada Act, in which the Canadian government reviews any bid worth more than $300 million by a foreign investor.
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