{"id":12010,"date":"2026-03-03T19:01:20","date_gmt":"2026-03-03T19:01:20","guid":{"rendered":"https:\/\/northamericanmining.com\/?p=12010"},"modified":"2026-03-03T19:01:22","modified_gmt":"2026-03-03T19:01:22","slug":"hudbay-inks-deal-to-acquire-arizona-sonoran","status":"publish","type":"post","link":"https:\/\/northamericanmining.com\/index.php\/2026\/03\/03\/hudbay-inks-deal-to-acquire-arizona-sonoran\/","title":{"rendered":"Hudbay inks deal to acquire Arizona Sonoran"},"content":{"rendered":"
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\"Hudbay-Minerals\"<\/figure>\n<\/div>\n\n\n

Canadian miner Hudbay Minerals<\/strong> 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\u2019s Cactus project to Hudbay\u2019s existing operations, including the Copper World project.<\/p>\n\n\n\n

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\u201cThe acquisition of ASCU is a highly compelling transaction that further enhances Hudbay\u2019s copper growth platform in the U.S. Cactus is a high-quality, large\u2011scale copper development asset in a mining jurisdiction that we know well,\u201d said Peter Kukielski, Hudbay\u2019s president and CEO.<\/p>\n<\/blockquote>\n\n\n\n

\u201cTogether with the advancement of Copper World, this transaction creates one of the most significant copper districts in North America and reinforces Hudbay\u2019s position as a premier copper growth company, while preserving financial flexibility and delivering long\u2011term value for shareholders.\u201d<\/p>\n\n\n\n

Under the terms of the agreement, each Arizona Sonoran shareholder will receive 0.242 of a Hudbay common share for each ASCU common share held, which represents approximately C$9.35 per ASCU common share and a $1,480 million equity value based on Hudbay\u2019s closing share price on the TSX on February 27. Hudbay currently holds a nearly 10% stake in ASCU.<\/p>\n\n\n\n

The deal provides a clear pathway to scale Hudbay\u2019s annual copper production from 125,000 tonnes to more than 250,000 tonnes by 2030 with Copper World and other near-term optimization projects, and potential to grow to more than 350,000 tonnes with Cactus.<\/p>\n\n\n\n

\u201cHudbay\u2019s strong balance sheet, proven track record in Arizona, and disciplined approach to project development meaningfully de\u2011risks the development of Cactus and positions it for long\u2011term success. I would like to thank our whole team for their tremendous efforts advancing the Cactus project and creating lasting benefits for all stakeholders,\u201d said George Ogilvie, Arizona Sonoran president and CEO.<\/p>\n\n\n\n

Subject to the receipt of all necessary regulatory approvals, the transaction is expected to be completed in the second quarter of 2026.<\/p>\n\n\n\n

Source: <\/em>Hudbay Minerals<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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\u2019s Cactus project to Hudbay\u2019s existing operations, including the Copper World project. \u201cThe acquisition of ASCU is a…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_themeisle_gutenberg_block_has_review":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[495],"tags":[4367,1696,1229,475],"coauthors":[1644],"class_list":["post-12010","post","type-post","status-publish","format-standard","hentry","category-latest-news","tag-arizona-sonoran","tag-arizona-sonoran-copper-company","tag-copper-world","tag-hudbay-minerals"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t