Hudbay Minerals Inc. Mining News

Waterton takes Hudbay Minerals to court

The Canadian miner's second-largest investor, Waterton Global Resource Management, has filed a lawsuit against the base metals producer in a bid to constrain its ability to solicit proxies.

Hudbay Minerals granted final permit for $1.9B Rosemont copper mine

The operation is expected to be the third-largest copper mine in the U.S., employing about 500 people and accounting for approximately 10% of the country’s total copper production.

Annual gold output to double at Lalor mine, says Hudbay

The Lalor mine will then be joining the ranks of primary gold producers as one of the lowest sustaining costs in the industry.

Waterton steps up efforts to oust Hudbay Minerals CEO, board of directors

Toronto-based private-equity firm Waterton Global Resource Management is pushing for an overhaul of Hudbay Minerals’ board and the exit of the CEO, Alan Hair, over alleged "mismanagement."

Hudbay Minerals investor Waterton seeks to replace CEO, board

Toronto-based private-equity firm Waterton Global Resource Management is launching a proxy fight with Hudbay Minerals, pushing to overhaul the board and oust its chief executive over alleged "mismanagement."

Amarc to drill Joy copper-gold project in BC

The company also identified three new targets that it says it can make drill ready through induced polarization and geological surveys in early 2019.

Hudbay shrugs off investor concerns, buys Nevada copper junior

The miner has bought Mason Resources despite shareholder Waterton previously requesting a moratorium on any near-term acquisitions.

Hudbay doesn’t deny rumours of interest in Chile’s Mantos Copper

The Chilean miner has been seeking a buyer for all or part of itself to raise $1 billion to dig for copper and gold in two of its mines in the country's north.

U.S. environmentalists file lawsuit to overturn approval of Canadian copper mine

The activists oppose Hudbay's Rosemont Project in the Santa Rita Mountains.

Arizona court hands key legal victory to Hudbay’s Rosemont copper project

Air quality control permit yanked last year has been reinstated.

Hudbay picks up fourth Manitoba mine

Hudbay Minerals (TSX, NYSX:HBM) has purchased the idled Snow Lake project in Manitoba, adding to its stable of properties in the Canadian province of Manitoba.

Manitoba officially opens two mines

Two mines in the Snow Lake area of Manitoba, Canada, were officially opened last week.

Hudbay Discontinues Planned Offering of US$400,000,000 Senior Unsecured Notes

HudBay Minerals Inc. ("Hudbay") (TSX:HBM)(NYSE:HBM) today announced that due to market conditions it is discontinuing the planned offering of US$400 million senior unsecured notes due 2020, which it had previously announced on May 14, 2012.

HudBay eyes further growth in Peru

Base metals miner HudBay Minerals is looking at expanding its asset base in Peru as it seeks to create a new hub that replicates the successes enjoyed at its mines in the Canadian province of Manitoba, the company's top executive says.

Hudbay agrees to sell Guatemalan nickel mine for $170m

TSX-listed Hudbay Minerals is to sell its Guatemalan Fenix project to Cyprus-based Solway Group for $170-million, the company said late on Friday. Solway, which owns mines in the Ukraine and Macedonia, will pay $140-million in cash on closing and $30-million once certain milestones in the nickel project’s development are reached, Hudbay said.

HudBay to build new concentrator at Lalor, extends mine life

HudBay Minerals now plans to build a new C$264-million concentrator and paste backfill plant at its Lalor zinc/copper/gold project, in Manitoba, rather than refurbishing an existing facility at the nearby Snow Lake operation.

HudBay completes Peru acquisition to up copper output 145%

Copper-zinc miner HudBay Minerals said Wednesday it has acquired the roughly 2.5m shares in Norsemont Mining it did not already own, giving it 100% ownership. The acquisition is set to increase HudBay's copper output by about 145% when Norsemont's Constancia mine in Peru comes into full production. The news comes a day after the company announced it will spend $144m to build a new concentrator at its Lalor project in Manitoba, Canada.

HudBay Minerals Intersects 2.4% Copper Equivalent Over 120 Meters at Constancia's Pampacancha Deposit

HudBay Minerals Inc. ("HudBay", the "company") (TSX:HBM)(NYSE:HBM) today announced exploration results from the Pampacancha zone at the company's Constancia project in Peru. Hole PO-11-072 intersected two main intervals of mineralization, including 121.45 meters of 1.62% copper, 13.62 g/t silver and 1.02 g/t gold (2.4% copper equivalent1) and 87.50 meters of 0.46% copper, 2.30 g/t silver and 0.22 g/t gold (0.65% copper equivalent).

HudBay Minerals intersects 2.4% copper equivalent over 120 meters at Constancia's Pampacancha Deposit

HudBay Minerals Inc. (TSX:HBM)(NYSE:HBM) today announced exploration results from the Pampacancha zone at the company's Constancia project in Peru. Hole PO-11-072 intersected two main intervals of mineralization, including 121.45 meters of 1.62% copper, 13.62 g/t silver […]

Anfield Nickel closes in on 100-million-tonne target

To show-off its size in a nickel belt with the likes of Hudbay Minerals as a neighbour, Anfield Nickel (TSX-V: ANF) set 100 million as a key tonnage threshold to cross at its Mayaniquel nickel project in Guatemala. In its latest resource update, Anfield clawed ever closer to the self-imposed target, important perhaps psychologically more than anything.

HudBay Minerals increases first quarter profit by 59%

HudBay Minerals Inc. has released its first quarter 2011 financial results. Net profit attributable to shareholders increased to $16.8 million or $0.11 per share in the first quarter of 2011, compared to $10.6 million, or $0.07 per share, during the first quarter of 2010. Earnings in the first quarter of 2011 included a charge of $5.8 million, or $0.04 per share, for transaction costs associated with the successful acquisition of Norsemont Mining Inc. in March 2011. Earnings grew during the quarter mainly due to higher metal prices and reduced exploration expense, partly offset by lower sales volumes, a stronger Canadian dollar and Norsemont transaction costs.

Victims of gang-rape in Guatemala announce lawsuit against Canadian mining company

Rosa Elbira Coc Ich and ten other indigenous Mayan Q'eqchi' women filed a lawsuit today against Canadian mining companies HMI Nickel, and its corporate owner, HudBay Minerals, regarding mining-related gang-rapes suffered by them near a […]

HudBay buys mores shares in U.S. copper/moly mine developer

Canadian base metals miner HudBay Minerals Inc raised its stake in Augusta Resource Corp to 14.3 percent by buying 5.4 million more shares in the company for C$21.3 million. HudBay now holds 20.2 million shares of Augusta Resource, up from about 14.8 million earlier, the company said on Monday.

Hudbay raises Augusta Resource Corp stake to 14%

Canadian base metals miner HudBay Minerals Inc raised its stake in Augusta Resource Corp to 14.3 percent by buying 5.4 million more shares in the company for C$21.3 million. HudBay now holds 20.2 million shares of Augusta Resource, up from about 14.8 million earlier, the company said on Monday.

HudBay Minerals triples profit in Q4 2010

HudBay Minerals posted some big gains in its fourth-quarter and year-end financials, the Toronto-based miner reported on Wednesday. Net earnings in Q4 2010 more than tripled to $24.5 million, compared to $7.2 million in the fourth quarter of 2009. Year-end numbers were also impressive, with net earnings of $73 million — a 475% increase over 2009 after adjusting for gains on the sale of investments, the company stated.