Offtake funding negotiations ‘well-advanced’, says HudBay

HudBay Minerals, the Canadian base metals producer, is in “well-advanced” talks to secure around $400-million in project financing for its Peruvian project linked to offtake, a spokesperson said on Tuesday. The company late last week called...

HudBay cans $400m notes offering, cites market conditions

Canada’s HudBay Minerals late on Friday said lousy market conditions caused it to call off the $400-million notes offering it had announced earlier in the week. Standard & Poor’s had given the proposed bonds a B rating, saying the TSX-listed...

Aquila to publish Back Forty PEA by end-May

Aquila Resources, which has a 49% stake in the Back Forty gold and zinc project in Michigan, said on Wednesday it will publish a preliminary economic assessment (PEA) on the asset in the next 60 days. The TSX-listed exploration firm also said it...

VMS eyes healthy cash flows at Reed copper project

It is more likely that HudBay Minerals, the 70% owner of the Reed Lake project in Manitoba, would make an offer to buy VMS Ventures’ 30% stake in the asset, than bid for the entire company, chairperson and CEO of the junior, Rick Mark, said last...

HudBay takes up 10% in Northern Shield

Northern Shield Resources soared 16% higher on the TSX-V on Thursday, after the Ottawa-based junior announced HudBay Minerals agreed to buy a near-10% stake in the company. That is the second deal it has struck with a major mining firm in as many...

Cashed-up HudBay to weather commodity weakness, says analyst

Diversified miner HudBay Minerals could more than triple copper-equivalent output to 280 000 t/y as three new projects start up, RBC Capital said on Thursday. Analyst Patrick Morton said in a note the TSX-listed company had not only enough cash...

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...

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 project, in Manitoba, rather than refurbishing an existing facility at the nearby Snow Lake operation. Because of the size of the Lalor...

Fénix nickel laterite project, Guatemala

The Fénix processing plant is expected to produce some 50-million pounds of nickel a year, at an estimated 25-year life-of-mine.

HudBay looking for partners on Guatemala nickel project

HudBay Minerals has begun looking for partners to participate in developing its Fenix nickel project in Guatemala and expects to have some news towards the end of this year, CEO David Garofalo said on Thursday. The company completed an updated...

HudBay hikes Back Forty resource estimate

HudBay Minerals and partner Aquila Resources have increased the measured and indicated mineral resource at their Back Forty project, in Michigan, to 18,1-million tons, with nearly one million ounces of contained gold and 3,2-million tons of...

HudBay buys stake in junior MacDonald

TSX-listed HudBay Minerals has agreed to subscribe for shares and warrants in MacDonald Mines Exploration, which is exploring for base metals in the Ring of Fire area of Ontario. HudBay will buy 19,06-million units in a private placement for...