Augusta Resource Corp to merge with Hudbay subsidiary

Canadian base metals miner Hudbay Minerals on Monday announced that it would amalgamate its newly acquired project development company Augusta Resource Corp with one of its indirect, wholly owned subsidiaries. Following a month-long hostile pursuit of Augusta, the two companies in July agreed to friendly terms for a sweetened all-scrip takeover offer, valued at C$555-million, which saw Hudbay, which already owned a 16% stake in Augusta, gain control of the prospective Rosemont copper project, near Tucson, in Arizona.