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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Mitsubishi Corp. becomes JV partner in Copper World
Mitsubishi Corporation has agreed to acquire a 30% interest in Copper World LLC, a wholly-owned subsidiary of Hudbay Minerals, for an initial cash contribution of $600 million. The company owns the Copper World project in Arizona. “Securing Mitsubishi as a 30% partner in Copper World is an important milestone for Hudbay as we establish a long-term strategic partnership to advance…
Read MoreHudbay obtains final major permit for Copper World
Hudbay Minerals has received an Air Quality Permit for the Copper World project from the Arizona Department of Environmental Quality (ADEQ). This is the final major permit required for the development and operation of the project in Pima County. “With the receipt of the Air Quality Permit for Copper World, we firmly believe Hudbay now has the best fully permitted…
Read MoreU.S. DOJ, Hudbay get split decision on Rosemont
On May 12, Hudbay Minerals confirmed that it and the U.S. Department of Justice (DOJ) received a split decision from the U.S. Court of Appeals for the Ninth Circuit affirming the U.S. District Court for the District of Arizona’s decision in July 2019 on its Rosemont copper project in Arizona. The decision states the Court of Appeals agreed with the…
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