Augusta Resource urges rejection of HudBay's buyout offer

|About: Augusta Resource Corporation (AZC)|By:, SA News Editor

Augusta Resource (AZC) asks shareholders to reject HudBay Minerals' (HBM) hostile offer to buy all AZC shares it doesn't already own, calling the offer "grossly inadequate" which fails to recognize the value of the Rosemont copper project.

Rosemont is expected to be the third-largest U.S. copper mine and account for as much as 10% of U.S. copper output; AZC is expected to receive final approval to start work at Rosemont in a few weeks.