Hudbay Minerals

SMS Equipment has delivered an electric Komatsu PC8000-11 excavator, the world's largest surface mining excavator, to the Copper Mountain mine near Princeton, B.C., owned by Hudbay Minerals and Mitsubishi Materials. The excavator will load Komatsu 830E electric haul trucks.

SMS Equipment delivered a Komatsu PC8000-11 electric excavator to Hudbay Minerals' Copper Mountain Mine in Princeton, B.C. The excavator is the largest surface mining excavator on the market and operates solely on electricity.

Shareholders of Hudbay Minerals and Copper Mountain Mining overwhelmingly approved the plan of arrangement for Hudbay to acquire Copper Mountain. The transaction combines three long-life operating mines and large-scale development projects.

Hudbay Minerals will acquire all shares of Copper Mountain Mining in an all-share deal, creating a combined copper producer with 150,000 tonnes per year capacity and estimated US$30 million in annual synergies.

Hudbay Minerals agreed to acquire United Copper and Moly's 7.95% interest in the Rosemont copper project for $45 million cash plus three annual installments of $10 million, simplifying ownership and allowing Hudbay to seek a new joint venture partner.