US Edition
Mitsubishi Buys 30%, $600M Stake in Copper World Near Tucson
Mitsubishi's $600 million investment covers about 30% of the $1.7 billion Copper World mine cost, marking the largest outside funding since project inception, Hudbay said.
3 Articles
3 Articles
Mitsubishi Corp. to Acquire 30％ Stake in Arizona Copper Mine Development Project, Expanding Global Interest in Copper
Major trading house Mitsubishi Corp. on Thursday announced it will invest about $600 million (about ¥88 billion) to acquire a 30% stake in a copper mine development project in the western U.S. state of Arizona.
Mitsubishi buys 30%, $600M stake in Copper World near Tucson
The Copper World mining project south of Tucson reaped a big financial boost Wednesday: Japan-based Mitsubishi Corp. will invest $600 million towards construction of the complex of six open pits at an estimated tab of at least $1.7 billion.
Hudbay & Mitsubishi Forge US$600M Partnership
Hudbay Minerals (TSX:HBM,NYSE:HBM) has struck a US$600 million deal with automobile giant Mitsubishi (TSE:8058) for a 30 percent stake in its Copper World project in Arizona, marking one of the largest foreign investments in the US copper sector in recent years.Announced Tuesday (August 12), the agreement will see Mitsubishi pay US$420 million on closing and a further US$180 million within 18 months.Mitsubishi will also fund its 30 percent share…
Coverage Details
Bias Distribution
- 50% of the sources are Center, 50% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
