Arizona Sonoran and Nuton LLC, a Rio Tinto Venture, have mutually agreed to the early termination of the Option to Joint Venture (OTJV) on the Cactus copper project in Arizona, as well as the termination of Nuton’s investor rights agreement with the company, effective immediately. “We appreciate Rio Tinto’s endorsement of the Cactus project through Nuton’s initial investment and shareholding,…
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Hudbay inks deal to acquire Arizona Sonoran
Canadian miner Hudbay Minerals has signed a definitive agreement to buy the remaining stake in Arizona Sonoran Copper Company that it does not already own for $1.48 billion. The deal will create a major copper hub in southern Arizona by adding Arizona Sonoran’s Cactus project to Hudbay’s existing operations, including the Copper World project. “The acquisition of ASCU is a…
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