Hudbay closes $600 million Mitsubishi investment for 30% Copper World joint venture

Hudbay announced that Mitsubishi Corporation has closed a $600 million strategic investment to take a 30% joint venture interest in the fully permitted Copper World project, with about $420 million contributed at closing and $180 million due within 18 months.

Hudbay announced the closing of a strategic investment from Mitsubishi Corporation that gives Mitsubishi a 30% joint venture interest in the Copper World project. The article mentions Hudbay Minerals Inc. (TSX, NYSE: HBM) as the company making the announcement. Copper World is described as a fully‑permitted project in Arizona owned by Copper World LLC. Mitsubishi contributed approximately $420 million at closing and will contribute an additional $180 million within 18 months, and will fund its pro‑rata 30% share of future equity capital contributions required to construct the project. Key details: - Mitsubishi acquired a 30% joint venture interest in Copper World LLC. - Approximately $420 million was contributed at closing. - An additional $180 million is scheduled to be contributed within 18 months to complete the initial $600 million investment. - Mitsubishi will fund its pro‑rata 30% share of future equity capital contributions for construction. - Hudbay referenced its August 13, 2025 news release for further terms of the subscription agreement. Summary: The transaction formalizes Mitsubishi as a 30% capital partner in the fully‑permitted Copper World project and provides committed funding to the joint venture. Mitsubishi's remaining $180 million payment is scheduled within 18 months and it will participate in future equity funding for construction; other timing or operational steps were not detailed in the announcement.