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The Rosemont project.
The Rosemont project.
(Lillian Grant/Augusta Resource Corp.)

Regulators should get out of takeovers

Can an endangered wild animal determine the fate of a hostile takeover bid? In Canada, the answer seems to be “yes.”

On May 22, an ocelot was spotted on the site of Augusta Resource Corp.’s Rosemont copper project and speculation is that this wildlife sighting could be a boon for HudBay Minerals Inc.’s hostile bid for Augusta. The U.S. Fish and Wildlife Service will now have to conduct further analysis of the project site, which means Augusta will likely not receive final development permits until the third quarter.