WINNIPEG, MANITOBA--(CCNMatthews - Oct. 17, 2005) - HudBay Minerals
Inc. (TSX:HBM) (HudBay) confirms that, through its wholly owned
subsidiary Hudson Bay Mining and Smelting Co., Limited (HBMS), it has
exercised an option to acquire 100% ownership of White Pine Copper
Refinery Inc. (White Pine), a Michigan-based copper refinery.
White Pine has processed the copper anode produced by HBMS into
refined copper cathode for a number of years and this will continue
after the acquisition.
HudBay previously announced on October 11, 2005 its intention to
exercise the White Pine option held by its joint venture marketing
company Considar Metal Marketing Inc.
The acquisition is expected to close in late 2005 or early 2006. The
purchase price to be paid for White Pine is US$13 million, subject to
certain adjustments.
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