WINNIPEG, MANITOBA--(CCNMatthews - Jan. 4, 2006) - HudBay Minerals
Inc. (TSX:HBM) (HudBay) announces that it has closed the purchase of
White Pine Copper Refinery Inc. (White Pine), a Michigan-based copper
refinery for the previously announced price of US$13 million, subject to
certain adjustments.
On October 17, 2005 HudBay confirmed by press release that, through
its wholly owned subsidiary, Hudson Bay Mining and Smelting Co., Limited
(HBMS), it had exercised an option to acquire 100% ownership of White
Pine.
"The purchase of White Pine will provide a dedicated processing
facility for HBMS copper anodes and will significantly reduce our
operating costs for refining copper", said Peter Jones, President &
CEO of HudBay.
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.
Forward Looking Information
Certain information regarding HudBay set forth in this document,
including management's assessment of HudBay's future plans and
operations, contains forward looking statements that involve substantial
known and unknown risks and uncertainties. These forward looking
statements are subject to numerous risks and uncertainties, some of
which are beyond HudBay's and management's control, including but not
limited to, the impact of general economic conditions, industry
conditions, fluctuation of commodity prices, acquisition risks,
fluctuation of foreign exchange rates, imperfection of reserve
estimates, environmental and financing risks, industry competition and
performance or achievement could differ materially from those expressed
in, or implied by, these forward looking statements and, accordingly, no
assurance can be given that any of the events anticipated to occur or
transpire from the forward-looking statements will provide any benefits
to HudBay.
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