Deals
HudBay Seeks ‘Toeholds’ in Mineral Explorers Over Larger Deals
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HudBay Minerals Inc., a Canadian copper and zinc producer, said it plans to expand by buying “toeholds” in exploration companies rather than acquiring or merging with rivals.
“It’s what we like to euphemistically call our farm system,” Chief Executive Officer David Garofalo said in a Jan. 26 interview at Bloomberg’s Toronto bureau. “We’re trying to fund promising drill programs, and if they find something meaningful we have a seat at the table.”