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Hudbay Announces $600 Million Strategic Investment from Mitsubishi Corporation for 30% Joint Venture Interest in Copper World
Secures a premier long-term strategic partner in Mitsubishi, which has a long history of joint ve...
About this update from Hudbay Minerals Inc
[{"type":"text","content":"Hudbay Announces $600 Million Strategic Investment from Mitsubishi Corporation for 30% Joint Venture Interest in Copper World\n\n\n\n\n\n Secures a premier long-term strategic partner in Mitsubishi, which has a long history of joint venture partnerships in the highest quality copper mines globally\n \n\n\n\n Mitsubishi's strategic partnership validates the attractive long-term value of Copper World as a world-class copper asset and endorses the strong technical capabilities of Hudbay\n \n\n\n\n Facilitates approximately $1.5 billion investment in the U.S. critical minerals supply chain to deliver an anticipated 85,000 tonnes of \"Made in America\" copper production annually for 20 years\n \n\n\n i\n \n\n\n\n\n Copper World is expected to create more than 1,000 jobs during project construction with 400 direct jobs and up to 3,000 indirect jobs once in full production\n \n\n\n\n Mitsubishi's initial investment of $600 million and pro-rata equity capital contributions provide significant financial flexibility by reducing Hudbay's estimated share of the remaining capital contributions to approximately $200 million based on PFS estimates\n \n\n\n\n Defers Hudbay's first capital contribution to 2028 at the earliest based on PFS estimates\n \n\n\n\n Increases levered project IRR to Hudbay to approximately 90% based on PFS estimates\n \n\n\n ii\n \n\n\n\n\n Agreed on terms for an enhanced precious metals stream with Wheaton which contemplates up to $70 million contingent payment that recognizes long-term potential of Copper World in addition to initial $230 million stream deposit\n \n\n\n\n Transaction would achieve the key funding elements in Hudbay's 3-P prudent financing framework for the development of Copper World\n \n\n\n\n\n\n TORONTO, Aug. 13, 2025 (GLOBE NEWSWIRE) --\n \n Hudbay Minerals Inc. (“Hudbay” or the “Company”) (\n \n\n TSX, NYSE: HBM)\n \n is pleased to announce that Mitsubishi Corporation (“\n \n Mitsubishi\n \n ”) has agreed to acquire a 30% interest in Copper World LLC, a wholly-owned subsidiary of Hudbay which owns the fully-permitted Copper World project in Arizona (“\n \n Copper World\n \n ”) for an initial cash contribution of $600 million, comprising $420 million as consideration for a 30% equity interest in Copper World at closing and $180 million a...