Hudbay has reached a deal with a Japanese mining company that could lead to multiple years of mineral exploration near Flin Flon’s existing mine processing facilities.
Hudbay has reached a deal with a Japanese mining company that could lead to multiple years of mineral exploration around the Flin Flon area.
Hudbay announced July 6 that company representatives had signed a memorandum of understanding with Marubeni Corporation for “a multi-year exploration partnership focused on the discovery of new deposits within trucking distance of Hudbay’s existing processing facilities in Flin Flon.”
Along with the MOU comes an agreement between the two groups for Marubeni to outline what the new company will do with anything it finds in and around Flin Flon. Both companies have “agreed to negotiate the terms of a definitive agreement to govern the relationship,” meaning that Marubeni would be funding around $10-to-15 million of exploration around properties covered under the agreement. While Marubeni will fund the exploration, Hudbay workers themselves will carry it out.
“This exploration partnership would give us access to the Flin Flon greenstone belt, one of the most prospective base metal VMS camps in the world,” said Marubeni copper mining department general manager Masafumi Ichigetsu in a statement released by Hudbay.
For the rest of this article: https://www.thereminder.ca/local-news/hudbay-japanese-miner-reach-deal-on-flin-flon-exploration-7266698