India, Aug. 13 -- Hudbay Minerals Inc.(HBM,HBM.TO) reported Wednesday a profit in its second quarter, compared to prior year's loss, with growth in revenues. Further, the firm reaffirmed its fiscal 2025 production guidance.
Separately, Hudbay Minerals announced a $600 million joint venture transaction with Japanese conglomerate Mitsubishi Corp. (MBC.L,MSBHY.PK) for a 30 percent minority interest in Copper World LLC, which owns the fully-permitted Copper World project in Arizona.
In the pre-market activity, Hudbay Minerals shares were climbing around 14.6 percent to trade at $11.28.
Mitsubishi has agreed to acquire a 30 percent interest in Hudbay unit Copper World, for an initial cash contribution of $600 million.
The joint venture will ...