Hudbay Minerals Inc. is preparing a sale of a stake in one of the largest copper mines under development in the U.S. as an investor pushes the company to review its portfolio, people familiar with the matter said.
The Toronto-based base metals miner has interviewed potential advisers about selling a 30 per cent stake in the Arizona Rosemont project and is planning to kick off a process in the coming months, the people said, asking not to be identified as the matter is private.
The stake is likely to draw interest from financial bidders, such as private equity firms, the people said. No final decisions have been made and Hudbay may still decide to keep the asset, they said. Continue Reading →