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 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 could see 2012 output from Reed Lake project

Canada's HudBay Minerals expects production could begin in 2012 from the Reed Lake project in Manitoba, CEO David Garofalo said on Thursday. HudBay owns 70% of the project, located on the Flin Flon Greenstone belt, and junior VMS Ventures holds...

HudBay lays out project plans, acquisition strategy

Canadian base-metals miner HudBay Minerals plans to aggressively develop its own growth projects, but will be conservative when it comes to making acquisitions, the firm's new chief executive said on Thursday. HudBay has approved the start of...

Fenix capex not likely much changed from last $1bn estimate – Hudbay

The price tag to build the Fenix nickel project in Guatemala will probably not be significantly different from the last published figure of $1-billion, Hudbay Minerals CFO David Bryson said on Wednesday. HudBay plans to complete an updated...

HudBay sees mid-2010 decision on Guatemala nickel project

Canadian base-metals miner HudBay Minerals expects to make a final decision on whether to proceed with the Fenix nickel project, in Guatemala, around the middle of next year, CEO Peter Jones said on Wednesday. The company is trying to come up...

Acquisitive HudBay already has 'irons in the fire'

Canadian base-metals miner HudBay Minerals intends to put its strong cash position to good use by going shopping, and could look at deals worth as much as C$1-billion, CEO Peter Jones said on Friday. Acquisitions or potential joint ventures will...

HudBay interim chief Benner preaches 'realism' amid market uncertainty

Colin Benner, who stepped in as interim CEO of Canadian base-metals miner HudBay Minerals just under a week ago, set a sombre tone on Monday as he briefed analysts and investors on his plans. Benner replaced Allen Palmiere, who resigned after...

HudBay board replacement would be 'drastic', disruptive – proxy firm

An independent proxy advisory firm has formally recommended that shareholders vote against a resolution to replace the board of HudBay Minerals with a new slate, the Toronto-based miner announced on Friday. Glass Lewis & Co, which is owned by...

HudBay chief Palmiere quits, Benner steps in temporarily

Allen Palmiere has resigned as CEO and a director of HudBay Minerals, and will be replaced on an interim basis by director Colin Benner, the company announced on Tuesday. In a statement, the firm did not give a reason for Palmiere's exit, which is...

Investors still support M&A – HudBay CEO

Shareholders and “knowledgeable” mining investors understand that mining is a long-term business, and support a strategy of growth through acquisitions, HudBay Minerals CEO Allen Palmiere insisted on Thursday. Last week, he backed off a plan...

HudBay, Lundin merger plan runs into headwinds

HudBay Minerals and Lundin Mining's announcement on Friday that they plan to merge their businesses to "create a new Canadian leader in global mining" may not have received quite the reaction the deal's architects were hoping for. HudBay shares...