Court approves Copper Mountain deal
PERTH (miningweekly.com) – The Supreme Court of British Columbia has approved dual-listed Copper Mountain Mining Corporation’s $439-million transaction with Canadian miner Hudbay.
Under the terms of the arrangement agreement, each Copper Mountain shareholder will receive 0.381 of a Hudbay common share for each Copper Mountain common share held.
The transaction consideration represents about C$2.67 a Copper Mountain common share, which Hudbay pointed out was a 23% premium to Copper Mountain shareholders based on the respective companies' ten-day volume-weighted-average share prices on April 12.
The deal has already been approved by both Hudbay and Copper Mountain shareholders, with the Toronto Stock Exchange having conditionally approved the listing of the Hudbay common shares to be issued in connection with the transaction.
Copper Mountain on Friday said that the transaction remained subject to a number of other conditions. It was currently anticipated that the transaction would become effective on June 20.
Copper Mountain’s main asset is its 75% interest in its namesake mine, in British Columbia, which produces around 100-million pounds of copper equivalent a year.
Hudbay for its part holds a number of long-life assets in North and South America, including the Constancia operation, in Peru, which produces copper with gold, silver and molybdenum by-products ant the Snow Lake operations, in Manitoba, which produces gold with copper, zinc and silver by-products.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation















