Hudbay Minerals Inc. (HBM)
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- InvestorPlace
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- Reuters
Japan's Marubeni to invest in Hudbay's exploration activities
Canadian miner Hudbay Minerals said on Wednesday that Japanese trading house Marubeni will invest up to C$12 million ($8.90 million) across exploration activities at three of the miner's projects. Once the funding and some other obligations are met, the two firms could also form a joint venture under which Marubeni would gain 20% interest in the three mining projects located within trucking distance of Hudbay's processing facilities in Flin Flon, Manitoba, the company said. The agreement would allow Hudbay to explore its large Flin Flon land package to potentially bring another mine into production and utilize its idle processing infrastructure in the region, Hudbay CEO Peter Kukielski said.
