https://newsletter.mw.creamermedia.com
Exploration|Infrastructure|Mining|Projects|SECURITY|supply-chain|Infrastructure
Exploration|Infrastructure|Mining|Projects|SECURITY|supply-chain|Infrastructure
exploration|infrastructure|mining|projects|security|supply chain|infrastructure

Japan's Marubeni to invest in Hudbay's exploration activities

13th March 2024

By: Reuters

  

Font size: - +

Canadian miner Hudbay Minerals said on Wednesday that Japanese trading house Marubeni will invest up to C$12-million across exploration activities at three of the miner's projects.

Once the funding and some other obligations are met, the two firms could also form a joint venture under which Marubeni would gain 20% interest in the three mining projects located within trucking distance of Hudbay's processing facilities in Flin Flon, Manitoba, the company said.

The agreement follows a memorandum of understanding the companies signed in July.

The agreement would allow Hudbay to explore its large Flin Flon land package to potentially bring another mine into production and utilize its idle processing infrastructure in the region, Hudbay CEO Peter Kukielski said.

Canada is home to a large mining sector for minerals such as lithium, nickel and cobalt and has been wooing firms involved in all levels of the electric vehicle (EV) supply chain.

However, it has also tightened foreign investment rules for the critical minerals sector over national security concerns and had forced three Chinese investors to sell their stakes in Canadian mineral companies in 2022.

Edited by Reuters

Comments

Showroom

Avlock International
Avlock International

Avlock International is a leading manufacturer and distributor of Specialized Fastening Systems.

VISIT SHOWROOM 
The Southern African Institute of Mining and Metallurgy
The Southern African Institute of Mining and Metallurgy

The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 17 January 2025
Magazine round up | 17 January 2025
17th January 2025

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.162 0.241s - 145pq - 2rq
Subscribe Now