Temasek Holdings

TORONTO, CANADA--(Marketwire - Feb. 9, 2012) - All amounts in Canadian dollars unless indicated otherwise Inmet (TSX: IMN) announces fourth quarter earnings of $0.69 per share. Fourth quarter highlights -- Strong earnings from operations Earnings from operations were $92 million compared to $93 million in the fourth quarter of 2010. The impact of significantly higher sales volumes this quarter mainly from Las Cruces, was offset by lower average copper and zinc prices. Although sales volumes were higher this quarter, timing of shipments resulted in copper sales lagging production by a combined 3,000 tonnes at Cayeli and Las Cruces. This timing effect reduced earnings from operations by approximately $12 million (or $0.13 per share on an after-tax basis). -- Las Cruces production increased In the fourth quarter of 2011, Las Cruces produced 14,100 tonnes of copper cathode, and finished the year with December production above 5,000 tonnes. In the last two weeks of 2011, we sustained ...