Hudbay Acquires Arizona Sonoran, Forming North America's Third Largest Copper District
Hudbay Minerals closes its court-approved takeover of Arizona Sonoran Copper, making it a wholly-owned subsidiary and expanding Hudbay's copper footprint.
Hudbay Minerals Inc. finalized its acquisition of Arizona Sonoran Copper Company Inc. on June 24, 2026, completing a court-approved plan of arrangement that transforms the combined entity into the third largest copper district in North America. The Toronto-based miner, listed on both the TSX and NYSE under the ticker HBM, confirmed that Arizona Sonoran is now a wholly-owned subsidiary effective immediately.
Under the terms of the deal, former Arizona Sonoran shareholders received 0.242 of a Hudbay common share for every Arizona Sonoran common share they held just before the transaction closed. Holders of options, restricted share units, and deferred share units were also covered, receiving the same exchange ratio calculated against shares held immediately after the effective time.
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The acquisition positions Hudbay as a significantly larger player in the North American copper market at a moment when demand for the industrial metal continues to be driven by electrification and clean-energy infrastructure investment. By absorbing Arizona Sonoran's copper assets, Hudbay consolidates a major deposit base that analysts and industry observers have long viewed as strategically valuable given the project's location in Arizona.
The deal was structured as a plan of arrangement and required court approval before closing, a standard mechanism under Canadian corporate law for mergers of this type. Hudbay had already held a stake in Arizona Sonoran prior to the transaction, meaning only the remaining publicly held shares needed to be exchanged to complete the full takeover.
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