The company received $140m in cash at closing and will get $30m upon the satisfaction of certain conditions during the course of Solway’s development of the project.
HudBay said that the proceeds of the sale further strengthen its balance sheet as the company develops its Lalor and Constancia projects.
HudBay is a Canadian integrated mining company with assets in North and South America.
The company is principally focused on the discovery, production and marketing of base and precious metals.
