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Stock impact report

Hudbay Minerals (HBM) Acquires Arizona Sonoran to Form Major North American Copper Hub [Yahoo! Finance]

Hudbay Minerals Inc. Ordinary Shares (Canada) (HBM) 
Last hudbay minerals inc. ordinary shares (canada) earnings: 2/20 05:35 pm Check Earnings Report
Company Research Source: Yahoo! Finance
buy . On March 2, Hudbay Minerals reached a deal to buy Arizona Sonoran Copper Company/ASCU in an all-share transaction worth roughly C$9.35 per share. ASCU shareholders will receive 0.242 Hudbay shares for each share they own, representing a 30% premium. This merger gives Hudbay full control of the Cactus project, which, when combined with its Copper World asset, creates the third-largest copper district in North America and establishes a major hub for US copper production. The acquisition is designed to increase Hudbay's production capacity. The company expects its annual copper output to grow from 125,000 tonnes to over 250,000 tonnes by 2030, with the potential to reach 350,000 tonnes. Hudbay Minerals Inc. (NYSE:HBM) also anticipates between $5 million and $10 million in annual corporate savings and plans to use resources from Copper World, such as sulfuric acid, to improve operations at the Cactus site. Hudbay Minerals (HBM) Acquires Arizona Sonoran to Form Major North Americ Show less Read more
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