Dual-listed Hudbay Minerals has marked a milestone in its growth journey by completing the acquisition of Rockcliff Metals. This move strengthens Hudbay’s position in the Snow Lake region of Manitoba, unlocking a wealth of potential and extending its footprint in the mining district.
Under the terms of the court-approved plan of arrangement, Hudbay acquired all the outstanding common shares of Rockcliff that it did not previously own. This transaction officially designates Rockcliff as a wholly owned subsidiary of Hudbay.
Prior to the acquisition, Rockcliff held a 49% joint venture partnership in Hudbay’s Talbot project. Its contribution also extends beyond Talbot. Rockcliff owns six additional deposits in the Snow Lake region, reinforcing its status as one of the biggest landholders in the mining-rich area.
“We are very excited about the completion of this logical transaction and the potential for Rockcliff’s deposits to extend the mine life and add further optionality to our operations in the Snow Lake region,” said Peter Kukielski.
The acquisition underscores Hudbay's commitment to expanding its presence in regions with significant mineral resources.
Hudbay has been stepping up efforts to expand in the Snow Lake region. The company has sealed several transactions with multiple landholders in recent times, acquiring the Cook Lake properties, a mere 10 km from, and along the same regional trend as, its Lalor mine. These properties are untested by modern deep geophysics and provide potential for a new discovery. The Cook properties are within 30 km of Hudbay’s Stall and New Britannia processing facilities.