A Major In The Making

Leading Base Metals Mining Company - Exploration, Mining, Metal Production and Sales

Hudbay Minerals Profile

HudBay Minerals Inc, Toronto, Ontario, TSX : HBM; is a leading base metals mining company with assets in North and Central America.

HudBay’s main production platform is located in northern Manitoba and includes the 777 mine, the Trout Lake mine, a concentrator, copper smelter and zinc plant at Flin Flon Manitoba.

Near Snow Lake Manitoba, the Company operates the Chisel North mine and a concentrator.

The Manitoba operations have benefited from a $435 million capital expenditure completed in early 2005 to bring the 777 and Chisel North mines into operation and expand and modernize the metallurgical plants.

The Company also operates the Balmat zinc mine and concentrator in New York state.

In addition HudBay produces zinc oxide at its +Zochem facility in Brampton Ontario and produces copper cathode at its White Pine refinery in Michigan.

The company markets its metals and zinc oxide through an agency agreement with Considar Metal Marketing which is based in Toronto and is 50% owned by HudBay.

In 2009 HudBay is planning to spend $20.0 million on exploration and build on the 2008 $45.7 million program that delivered the Lalor Project, which the Company believes will develop into a significant new zinc and gold discovery in Canada.

Exploration targets in 2009 in the Flin Flon Greenstone Belt include drilling at the Lalor Project, structural re-iterpretations of mines and geophysical targets.

The Company is also exploring within operating mines, in an effort to once again expand mineral reserves and resources.

Competitive Strengths

  • Our team -- providing depth of expertise and experience in exploration, engineering, operations and management
  • Our properties -- access to some of the best mining exploration properties in the world for zinc and copper
  • Our operations -- a profitable and efficient integrated mining company, capable of producing strong cash flows Our finances -- balance sheet strength and flexibility to fund future growth opportunities for increasing shareholder value

Our Strategy

We are employing a disciplined growth strategy to leverage our strengths as a base metal mining company to produce long-term value for all our stakeholders – our people, our investors, our customers and the communities where we operate.

Our strategy highlights:

  • People -- fostering a culture of success grounded in a commitment to protecting the safety, health and welfare of our people
  • Exploration -- driving forward with activities to develop the growth potential within the Flin Flon Greenstone Belt and within our current operating mines
  • Business Development -- opportunistically pursuing investments to expand the scale and capabilities of our business
  • Optimization -- maximizing productivity and efficiency at all operations through innovation and continuous improvement
  • Responsibility – operating with best practices in environment, health and safety and by positively contributing to the economic and social well-being in communities where we operate.

In addition to its primary products, the Company also produces gold, silver and zinc oxide.

HudBay is a member of the S&P/TSX Composite Index and the S&P/TSX Global Mining Index.

Hudson Bay Exploration and Development (HBED)

  • Exceptional record of success in discovering mineral deposits
  • 100% wholly owned subsidiary of HBMS

Last changed at 10-Mar-2009 08:10AM by Highgrader