TORONTO, ONTARIO, Feb 3, 2009 (Marketwire via COMTEX News Network) --
HudBay Minerals Inc. (TSX:HBM) ("HudBay Minerals") announces that all
the unions at the Flin Flon and Snow Lake, Manitoba operations of its
wholly-owned subsidiary, Hudson Bay Mining and Smelting Co., Limited,
have voted to ratify new three year collective agreements effective
January 1, 2009.
"We are pleased to have successfully completed
collective agreements with our unions for the next three years," said
Allen J. Palmiere, HudBay Minerals' chief executive officer. "We look
forward to working with our unions to meet the challenges that we face
in sustaining our operations in the current market while positioning
ourselves for future growth as we capitalize on the exciting potential
of our assets, like the Lalor deposit, in the Flin Flon Greenstone
Belt."
ABOUT HUDBAY MINERALS INC.
HudBay
Minerals is a leading base metals mining company with assets in North
and
Central America. The company is focused on growing its business through
operational optimization, strategic investing, mine development and
exploration. An integrated mining company, HudBay Minerals operates zinc
and copper mines, concentrators and metal production facilities in
northern Manitoba and Saskatchewan, a zinc oxide production facility in
Ontario, the White Pine Copper Refinery in Michigan, and owns the Fenix
nickel project in Guatemala. In addition to its primary products, the
company also produces gold, silver and zinc oxide. HudBay Minerals is a
member of the S&P/TSX Composite Index and the S&P/TSX Global
Mining Index.
FORWARD-LOOKING INFORMATION
This news
release contains "forward-looking information" within the meaning of
applicable securities laws. Forward-looking information includes, but is
not limited to, information concerning the agreement with
the unions and matters relating thereto, and information concerning
HudBay's mineral resource estimates and potential plans for Lalor, as
well as HudBay's exploration and development plans and its strategies
and future prospects. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as "plans",
"expects", or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "does not
anticipate", or "believes" or variations of such words and phrases or
statements that certain actions, events or results "will", "may",
"could", "would", "might", or "will be taken", "occur", or "be
achieved". Forward-looking information is based on the opinions and
estimates of management at the date the information is made, and is
based on a number of assumptions and subject to a variety of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking
information (including the actions of other parties who have agreed to
do certain things). Many of these assumptions are based on factors and
events that are not within the control of HudBay and there is no
assurance they will prove to be correct. Factors that could cause actual
results or events to vary materially from results or events anticipated
by such forward-looking information include court and/or other
regulatory approval, action by an intervening party or parties, future
agreements reached with third parties, changes in market conditions,
variations in ore grade or recovery rates, risks relating to
international operations, fluctuating metal prices and currency exchange
rates, changes in project parameters, the possibility of project cost
overruns or unanticipated costs and expenses, labour disputes and other
risks of the mining industry, failure of plant, equipment or processes
to operate as anticipated as well as those risk factors discussed in the
Annual Information Form for the year ended December 31, 2007 for HudBay
available at www.sedar.com.
Although HudBay has attempted to identify important factors that could
cause actual actions, events or results to differ materially from those
described in forward-looking information, there may be other factors
that cause actions, events or results not to be anticipated, estimated
or intended. There can be no assurance that forward-looking information
will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information. HudBay
undertakes no obligation to update
forward-looking information if circumstances or
management's estimates or opinions should change except as required by
applicable securities laws. The reader is cautioned not to place undue
reliance on forward-looking information.
This news release and
the information contained herein does not constitute an offer of
securities for sale in the United States and securities may not be
offered or sold in the United States absent registration or exemption
from registration.
(HBM-G)
SOURCE: HudBay Minerals Inc.
HudBay Minerals Inc.
Annemarie Brissenden
Manager, Investor Relations
(416) 362-0615
Email: annemarie.brissenden@hudbayminerals.com
Website: www.hudbayminerals.com
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