Hudbay Announces $600 Million Strategic Investment from Mitsubishi Corporation for 30% Joint Venture Interest in Copper World

TORONTO, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “Company”) (TSX, NYSE: HBM) is pleased to announce that Mitsubishi Corporation (“Mitsubishi”) has agreed to acquire a 30% interest in Copper World LLC, a wholly-owned subsidiary of Hudbay which owns the fully-permitted Copper World project in Arizona (“Copper World”) for an initial cash contribution of $600 million, comprising $420 million as consideration for a 30% equity interest in Copper World at closing and $180 million as a matching contribution within 18 months of closing (the “JV Transaction”). The JV Transaction is subject to the satisfaction of customary closing conditions. All dollar amounts are in U.S. dollars, unless otherwise noted.