Published 2 months ago

Hudbay and Marubeni Sign Flin Flon Option Agreement to Advance Exploration Partnership - Hudbay Minerals (NYSE:HBM)

Summary by Ground News

Hudbay has granted Marubeni's wholly-owned Canadian subsidiary an option (the "Option") to acquire a 20% interest in three projects located within trucking distance of Hudbay's processing facilities in Flin Flon, Manitoba. In order to exercise the Option, amongst other things, Marubeni will fund at least C$12 million in exploration expenditures over a period of approximately five years. Hudbay will act as operator and carry out the exploration activities. Upon successful completion of Marubenei's earn-in obligations, a joint-venture will be formed to hold the selected projects with Hudbay, acting as operator, holding an 80% interest and Marubnei holding the remaining 20%.

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Benzinga

Hudbay and Marubeni Sign Flin Flon Option Agreement to Advance Exploration Partnership - Hudbay Minerals (NYSE:HBM)

TORONTO, March 13, 2024 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. ("Hudbay" or the "company") ((TSX, NYSE:HBM) is pleased to announce the signing of an option agreement (the "Agreement") with Marubeni Corporation ("Marubeni"), pursuant to which Hudbay has granted Marubeni's wholly-owned Canadian subsidiary an option (the "Option") to acquire a 20% interest in three projects located within trucking distance of Hudbay's processing facilities in F…

2 months ago·New York, United States

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