Hudbay and Mitsubishi Approve Construction of Copper World Project with Wheaton Precious Metals Streaming Agreement

Hudbay Minerals and Mitsubishi have approved the construction of the Copper World copper project in Arizona, which will feature a $230 million deposit from Wheaton Precious Metals in exchange for a precious metals stream. The funding plan also includes a $600 million initial joint-venture equity investment from Mitsubishi and expected project-level debt. The project is noted for its high-grade open-pit operation and significant mineral reserves.