Rosemont Copper Mine company could face bidding battle - Tucson News Now

Rosemont Copper Mine company could face bidding battle

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TUCSON, AZ (Tucson News Now) -

There's a growing possibility of a bidding war for the company behind the proposed Rosemont Copper Mine.

Directors of Canada's Augusta Resource said they now have 10 outside firms interested in a possible buyout, but they can't talk details because of a confidentiality agreement.

Augusta is urging its shareholders to reject a $500 million hostile takeover bid from rival, Canadian miner Hudbay Minerals.

Augusta and several market observers said the Hudbay offer is too low.

Rosemont is waiting for the Forest Service's final decision on its proposed open-pit operation in the Santa Rita Mountains.

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