WINNIPEG, MANITOBA--(CCNMatthews - Nov. 3, 2005) - HudBay Minerals
Inc. (TSX:HBM) (HudBay) today announced that, through its wholly owned
subsidiary Hudson Bay Mining and Smelting Co., Limited (HBMS), it has
entered into an agreement with Montana Resources, LLP to purchase copper
concentrates from Montana Resources' Butte mine in Montana.
The long term agreement provides for the purchase of 10% of Montana
Resources' Butte mine concentrate production, or approximately 13,000
dry metric tonnes in 2006, and 20% of annual production or approximately
26,000 dry metric tonnes each year thereafter. The agreement runs from
2006 to 2015 inclusive, subject to certain termination rights effective
after December 31, 2008.
HBMS at its Flin Flon, Manitoba copper smelter processes copper
concentrates from company owned mines as well as concentrate purchased
from others.
"We are pleased to have Montana Resources as a copper concentrate
supplier and to formalize the long time relationship of concentrate
supply from the Butte mine." said Peter R. Jones, President and CEO of
HudBay.
In addition to the agreement with Montana Resources, HBMS has a long
term agreement with Highland Valley Copper for the purchase of copper
concentrate.
About HudBay Minerals Inc.
HudBay Minerals Inc. is an integrated mining and metal producing
company that operates mines and concentrators in northern Manitoba and
Saskatchewan and a metal processing complex in Flin Flon, Manitoba. The
company also operates a zinc oxide production facility in Brampton,
Ontario and owns the former producing Balmat zinc mine in New York
State, which is being evaluated for re-opening.
FOR FURTHER INFORMATION PLEASE CONTACT:
HudBay Minerals Inc.
Tom Goodman
Vice President, Human Resources and Technical Services
(204) 687-2380
(204) 942-8177 (FAX)
tom.goodman@hbms.ca.
www.hudbayminerals.com