Hudbay Minerals to buy Copper Mountain Mining in $439 mln deal (updated)

Copper Mountain Mining

13/04/2023 13:05

(Adds details)
       April 13 (Reuters) - Canadian miner Hudbay Minerals Inc  HBM.TO  said on Thursday that
it would buy peer Copper Mountain Mining Corp  CMMC.TO  in a $439 million all-share deal to
boost its copper portfolio. 
    The combined company would create the third largest copper producer in Canada, Hudbay
Minerals said, and added that the deal could unlock $30 million per year in operating
efficiencies and corporate synergies. 
        Under terms of the deal, each Copper Mountain shareholder will receive 0.381 of a Hudbay
common share for each Copper Mountain common share held.
        The miners expect the deal to be completed late in the second quarter or in early third
quarter of 2023.

 (Reporting by Ankit Kumar; Editing by Shailesh Kuber)
 ((Ankit.Kumar2@thomsonreuters.com;))