HudBay Minerals Inc. Acquires Interest in Rosemont Copper Project JV

On April 25, 2019, Hudbay Minerals Inc. (“Hudbay”) acquired United Copper & Moly LLC’s (“UCM”) 7.95% interest in the Rosemont copper project joint venture for upfront cash consideration of US$45 million, plus three annual installments of US$10 million and the assumption of approximately US$25 million in debt. UCM is jointly owned by Korea Resources Corporation and LG international Corp. Fasken advised Hudbay with a team led by Brian Graves and including Alex Nikolic, Michael Bourassa and Tom Peters.