Hudbay Minerals Closes $600M JV with Mitsubishi for Copper World Project
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 12 2026
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Source: seekingalpha
- Strategic Investment Closed: Hudbay Minerals announced the completion of a strategic investment with Mitsubishi, which will inject $420M into the Copper World project in Arizona, significantly enhancing the project's funding base and development potential.
- Future Funding Commitment: Mitsubishi will also contribute an additional $180M within 18 months to complete its initial investment and cover its 30% share of future equity capital contributions required for construction, ensuring smooth project advancement.
- Use of Funds: Hudbay stated that the $420M from Mitsubishi will be directly allocated to fund the feasibility study and pre-development costs of the Copper World project, ensuring timely progress and risk mitigation.
- Feasibility Study Progress: The feasibility study for the Copper World project is expected to be completed by mid-2026, and Hudbay considers the successful closing of the $600M joint venture transaction a significant milestone in advancing Copper World, further validating the long-term value of this world-class asset.
Analyst Views on HBM
Wall Street analysts forecast HBM stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for HBM is 20.63 USD with a low forecast of 17.24 USD and a high forecast of 24.79 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
10 Buy
0 Hold
0 Sell
Strong Buy
Current: 25.430
Low
17.24
Averages
20.63
High
24.79
Current: 25.430
Low
17.24
Averages
20.63
High
24.79
About HBM
Hudbay Minerals Inc. is a Canada-based copper-focused critical minerals company with three operations and a pipeline of copper growth projects in tier-one mining jurisdictions of Canada, Peru and the United States. The Company's operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). The Company's growth pipeline includes the Copper World project in Arizona (United States), the Mason project in Nevada (United States), the Llaguen project in La Libertad (Peru) and several expansion and exploration opportunities near its existing operations. The Copper Mountain Mine, located south of Princeton, British Columbia, is a conventional open pit, truck and shovel operation. The Constancia mine is located in the province of Chumbivilcas in southern Peru. Its primary production is copper, complemented by gold production and by-products, such as zinc, silver, and molybdenum.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
