WINNIPEG, MANITOBA, Jan 24, 2008 (Marketwire via COMTEX News Network)
--
HudBay Minerals Inc. (TSX:HBM) announced today, effective immediately,
the appointment of Allen J. Palmiere as the company's new President and
Chief Executive Officer. Mr. Palmiere has served as Chairman of the
Board of HudBay since 2004. Norman Anderson, a director of the company,
will take over the position of Chairman. The appointment of Mr. Palmiere
comes as Peter Jones has chosen to retire as President, CEO and a
director of the company.
Mr. Palmiere has spent the majority of
his career serving in senior management roles in the mining industry. He
has previously served as Treasurer of Northgate Exploration Ltd., Chief
Executive Officer and Chief Financial Officer of Breakwater Resources
Ltd., Chief Financial Officer of Zemex Corporation, and Executive
Chairman of Barplats Investments Limited.
Mr. Anderson, a native
of Flin Flon, Manitoba, is one of the most respected
executives in the mining industry. He has served as Chairman,
Vice-Chairman, President and Chief Executive Officer of a number of
companies and is currently the President of the management consulting
firm of Anderson & Associates. "I am pleased to take on this new
role including the many opportunities that it brings," said Mr.
Palmiere. "This is an exciting time for HudBay, and I look forward to
building on the past and participating in the company's future
successes. HudBay has an exceptional operating team and is well
positioned for the future," he added.
"Allen has made a
significant contribution to HudBay during his time as Chairman of the
Board. His proven leadership skills will undoubtedly be an asset to the
company as we look to grow and expand into the future," said Norman
Anderson, incoming Chairman of the Board. "HudBay's directors and the
entire management team join me
in welcoming Allen to his new position."
"It has been an honour
to lead HudBay as a public company," said Mr. Jones. "Earlier this week,
the company marked more than 80 years in business - a tremendous
accomplishment. In recent years, we've achieved many great things
including strong financial performance and strengthened relationships
with our valued employees and the communities in which we operate. I
wish my colleagues at HudBay continued success."
NOTICE OF INVESTOR CONFERENCE CALL AND WEBCAST
HudBay
will be hosting an investor conference call tomorrow morning at 9 am
(Eastern time) to introduce Mr. Palmiere in his new capacity. A live
webcast will be available on the HudBay website. Details are as follows:
Date: January 25, 2008
Time: 9:00 am (Eastern time)
Webcast: www.hudbayminerals.com
Dial in: 416-644-3420 or 800-731-6941
Replay: 416-640-1917 or 877-289-8525
Replay passcode: 21261047#
The conference call replay will be available until midnight
(Eastern time) on February 1, 2008. An archived audio webcast of the
call will also be available on HudBay's website.
About HudBay Minerals Inc.
HudBay
is an integrated mining company operating mines, concentrators and a
metal production facility in northern Manitoba and Saskatchewan. HudBay
also owns a zinc oxide production facility in Ontario, the White Pine
copper refinery in Michigan and the Balmat zinc mine in New York state.
HudBay is a member of the S&P/TSX Composite Index and a member of
the S&P/TSX Global Mining Index.
(HBM-G)
Forward-Looking Information
This
news release contains "forward-looking information", within the meaning
of applicable Canadian securities legislation. Forward-looking
information includes, but is not limited to, information with respect to
HudBay's
future prospects. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as "plans",
"seeks", "expects", "budget" or variations of such words or state that
certain actions, events or results "may", "could", "will", "will be",
"would be" or "is expected to be". Forward-looking information is
subject to known and unknown risks, uncertainties and other factors that
may cause the actual results, level of activity, performance or
achievements of HudBay to be materially different from those expressed
or implied by such forward-looking information, including risks
associated with the mining industry such as economic factors, government
regulation and approvals, environmental risks, actual results of
exploration activities, future commodity prices, permitting timelines,
capital expenditures, possible variations in ore reserves, resources,
grade or
recovery rates, requirements for additional capital, changes in laws or
policies, changes in project parameters as plans continue to be refined,
conclusions of economic evaluations as well as those factors discussed
in the section entitled "Risk Factors" in HudBay's Annual Information
Form for the year ended December 31, 2006, available on www.sedar.com.
Although HudBay has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated
in such information. Accordingly, readers should not place undue
reliance on forward-looking information. HudBay does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
SOURCE: HudBay Minerals Inc.
Media:
Edelman Public Relations
Katie Clark
(416) 979-1120 ext 231 or Cell: (416) 200-3394
Email: katie.clark@edelman.ca
Analysts:
HudBay Minerals Inc.
Brad Woods, Director, Investor Relations
(204) 949-4272
Email: brad.woods@hbms.ca
Website: www.hudbayminerals.com
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