Oroco Congratulates Hudbay Minerals Inc.

Core Insights - Oroco Resource Corp. congratulates Hudbay Minerals Inc. for its agreement with Mitsubishi Corporation, where Mitsubishi will acquire a 30% interest in Hudbay's Copper World project for US$600 million [1][2][3] - The transaction highlights the strategic importance and market demand for high-quality North American copper projects, supported by robust technical studies [2][3] - The Copper World project is valued at US$1.4 billion, indicating strong market interest in well-defined copper projects [3] Company Developments - Oroco is advancing its Santo Tomás copper project towards the Pre-Feasibility Study (PFS) stage, which shares characteristics with the Copper World project, such as being a large-tonnage, open-pit copper porphyry deposit [3][4] - The Santo Tomás project covers a total area of 6,121 hectares and is located in northwestern Mexico, with significant copper porphyry mineralization identified through extensive prior exploration [4][6] - Oroco has conducted a drill program at Santo Tomás, totaling 48,481 meters drilled in 76 diamond drill holes, leading to updated resource estimates and engineering studies [5][6] Market Context - The acquisition by Mitsubishi underscores the value of advancing open-pit copper deposits through critical stages of technical and economic definition, reflecting strong demand for critical minerals [2][3] - The Santo Tomás project is strategically located within 170 km of a deep-water port and is well-serviced by infrastructure, enhancing its development potential [6]