https://www.miningweekly.com

Hudbay Minerals back in the black

9th November 2013

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

Font size: - +

TORONTO (miningweekly.com) – Canadian miner Hudbay Minerals on Friday said it had swung to a third-quarter profit of $3-million, or $0.03 a share, compared with a loss of $5.4-million, or 0.03 a share, as higher foreign exchange gains and lower tax expense boosted earnings, which was partially offset by lower revenue as a result of lower volumes and prices.

In the third quarter ended September 30, the diversified miner’s revenues fell $14.4-million to $130.2-million, which was mainly owing to lower copper sales volumes, as a result of the planned permanent closures of the Trout Lake and Chisel North mines, in Manitoba, and lower metals prices when compared with the same period on 2012, partially offset by higher zinc, gold and silver volumes.

Toronto-based Hudbay, which is developing the $1.7-billion Constancia copper mine, in Peru, on Monday announced that it had entered into an amended and restated precious metals stream agreement with Silver Wheaton, that would inject $135-million more into its coffers in exchange for half of the payable gold from the Constancia project, which was expected to start production at the end of 2014.

To watch Creamer Media's latest video reports, click here
 

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 
SafeQuip
SafeQuip

SafeQuip is a leading distributor and manufacturer of fire safety solutions, offering a comprehensive range of products designed to meet all...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.045 1.024s - 128pq - 2rq
Subscribe Now