* Says talks on sale of minority stake have ended
* Inmet shares down slightly in early trade
TORONTO, Sept 14 (Reuters) - Canada’s Inmet Mining Corp IMN.TO said on Monday it has ended talks with Korea Resources Corp (Kores) on selling Kores a minority stake in Inmet and offering it an option to invest in Inmet’s copper project in Panama.
Last week, Inmet denied media reports that it had agreed to sell a stake to Kores, but said the two sides have been in talks. [ID:nSEO206423]
South Korea’s state-run Kores also confirmed last week that it was in talks to buy a stake in Inmet, which produces copper, zinc and gold and has operations in Turkey, Spain, Finland, Canada, Panama and Papua New Guinea. [ID:nSEO275155]
Inmet, at the time, said it had entered into a strategic alliance with Kores under which the two companies will establish a protocol to pursue common interests.
Toronto-based Inmet said it will endeavor to continue its relationship with Kores through the recently executed alliance agreement.
Inmet shares were down 38 Canadian cents at C$58.30 in early trade on the Toronto Stock Exchange.
$1=$1.08 Canadian Reporting by Euan Rocha; editing by Peter Galloway