TORONTO (miningweekly.com) – 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 "in the right circumstances", CEO Peter Jones said on Friday.

Acquisitions or potential joint ventures will be a “high priority” this year for the company, which has some C$800-million on hand, he told journalists after the firm's annual shareholders meeting in Toronto.

Jones said the focus will remain on copper, zinc and nickel assets, and also indicated that the company may already have identified some potential targets.

“It is fair to say that we have a number of irons in the fire,” he said.

The firm will look at lower risk countries - Jones cited South and central America as "key areas" - but could also be lured to regions like Africa and Asia for attractive enough projects.

"The opportunities are definitely out there, there is no question about it," he said.

"People are talking. They want to talk and this is very different from a year or two ago."

The focus on acquisitive growth is one fork of a new strategic plan presented to shareholders at Friday's meeting