Hudbay acquiring Copper Mountain for US$439 million CanadiansInvest
The companies said the deal will create a premier Americas-focused copper mining company that is well positioned to deliver sustainable cash flows from an operating portfolio of three long life mines, as well as organic growth from a pipeline of copper expansion and development projects.
Hudbay’s Constancia operations in Cusco, Peru, produce copper, with gold, silver and molybdenum by-products. Its Snow Lake operations in Manitoba produce gold with copper, zinc and silver by products. Its organic pipeline includes the Copper World project in Arizona and Mason project in Nevada. On October 6, 2022, Copper Mountain said it had agreed to sell its other key asset — the Eva Copper Project in the Mount Isa region of Queensland — to Harmony Gold Mining Co. for US$230 million. The deal called for an upfront cash payment of US$170 million.
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