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Hudbay Minerals Closes Acquisition of Arizona Sonoran

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Hudbay Minerals (HBM) said Wednesday it closed its acquisition of Arizona Sonoran Copper through a court-approved plan of arrangement.

The company said former investors in Arizona Sonoran received 0.242 of a Hudbay ordinary share for each Arizona Sonoran share they owned.

The transaction adds the Cactus project to Hudbay's Arizona business and is expected to double the company's annual copper output to over 250,000 tonnes by 2030, Hudbay said.

Shares of the company were down 7.4% in Wednesday trading.

Price: $23.49, Change: $-1.87, Percent Change: -7.37%

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