09:42 AM EST - Inmet Mining Corp. : reported a decline in profit for the second quarter, reflecting foreign exchanges losses of $21 million this quarter on the repatriation of cash from Cayeli and Pyhasalmi. In addition, the company recognized foreign exchange gains of $18 million last year mainly from revaluing Las Cruces' U.S. dollar denominated debt under its credit facility. For the quarter, profit was down to $48.44 million or $0.86 per share from $66.53 million or $1.36 per share last year. The company recorded gross sales of $215.05 million, up from $213.04 million in the year-ago period. Inmet Mining Corp.
shares T.IMN are trading even at $49.25.
