TORONTO, ONTARIO, Jan 27, 2009 (Marketwire via COMTEX News Network)
-- HudBay Minerals Inc.'s (TSX:HBM) subsidiary, Hudson Bay Mining and
Smelting Co., Limited, has reached tentative agreements with the unions
at its operations at Flin Flon and Snow Lake in Northern Manitoba on new
three year collective agreements effective January 1, 2009. The unions
are holding information meetings for their members during the week of
January 26, 2009, and voting on ratification is expected to take place
on February 2, 2009.
ABOUT HUDBAY MINERALS INC.
HudBay 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 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 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 tentative agreement with the
unions and matters relating thereto. Generally, forward-looking
information can be identified by the use of forward-looking terminology
such as "tentative" ,"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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