Hudbay Minerals Acquires Copper Mountain Mining in $439 Million Deal – MINING.COM
Hudbay Minerals has acquired Copper Mountain Mining for $439 million. The acquisition brings to an end Copper Mountain’s long-standing goal to diversify its assets by bringing in a partner with substantial experience in mining.
The Acquisition in Detail
According to the deal, Hudbay Minerals will pay $2.65 per share for Copper Mountain, which represents a premium of 56 percent above the company’s share price at the time of the announcement.
The Benefits of the Purchase
The acquisition provides Hudbay Minerals with a 100% stake in Copper Mountain’s flagship mine and resource center in British Columbia, Canada. The purchase also includes Copper Mountain’s Morgan Stanley royalty, which provides additional exploration opportunities in that region.
Expert Measures to Complete the Deal
The agreement was unanimously approved by the board of Copper Mountain Mining and has met with the approval of both of Hudbay’s largest shareholders. Under the terms of the agreement, the deal must be completed by the end of the third quarter of 2021.
The Global Perspective
Mining companies are increasingly looking to acquire exploration assets with companies that have had success in developing new deposits for minerals, such as copper. The acquisition of Copper Mountain by Hudbay Minerals highlights this trend and will strengthen the industry’s global position.
#mining #copper #mergerandacquisition #hudbayminerals #coppermountain #canada
Summary: Hudbay Minerals has acquired Copper Mountain Mining in a $439 million deal. The acquisition will give Hudbay Minerals a 100% stake in Copper Mountain’s flagship mine and resource center in British Columbia, Canada, as well as the Morgan Stanley royalty. The deal has met with the board of Copper Mountain Mining and the approval of Hudbay’s largest shareholders. The acquisition follows the trend of mining companies acquiring exploration assets with companies that have had success in developing new deposits for minerals, such as copper. #BUSINESS