TORONTO, ONTARIO, Jun 21, 2010 (Marketwire via COMTEX News Network)
-- HudBay Minerals Inc. ("HudBay", the "Company") (TSX:HBM) today
announced the appointment of Mr. David Garofalo as President and Chief
Executive Officer and to the Board of Directors of the Company,
effective July 12, 2010.
Most recently, Mr. Garofalo served as
Senior Vice President, Finance and Chief Financial Officer with
Agnico-Eagle Mines Limited, where he has been employed since 1998.
Before joining Agnico-Eagle, Mr. Garofalo served as Treasurer and in
various finance roles with another international mining company from
1990. In 2009, Mr. Garofalo was named Canada's CFO of the Year by
Financial Executives International Canada, TopGun CFO by Brendan Wood
International and was given the award for Best Investor Relations by a
CFO by IR Magazine. Mr. Garofalo is a graduate of the University of
Toronto
(B.Comm.) and a Chartered Accountant, and serves on the Board of
Directors of
York Central Hospital Foundation.
"We are extremely pleased to
have someone of David's caliber and reputation joining us to lead the
company into the future," said G. Wesley Voorheis, chairman of the Board
of Directors. "His track record in the mining industry and experience
helping lead a company through a rapid period of growth will serve him
well as he joins HudBay at this exciting juncture in its history. He is
recognized as an outstanding executive in the mining industry and is
ideally suited to lead our management team and work with our Board of
Directors to create value for our shareholders."
"On behalf of
the Board I would like to thank Mr. Warren Holmes for his dedication and
contributions during his time as interim chief executive officer," said
Mr. Voorheis. "HudBay has been very fortunate to have Warren as our
chief executive officer over the past few months and
we look forward to his ongoing input and support as a member of our
Board."
HudBay Minerals Inc.: Strength to Build the Future
HudBay
Minerals Inc. (TSX:HBM) is a Canadian integrated mining company with
assets in North and Central America principally focused on the
discovery, production and marketing of base metals. The company's
objective is to maximize shareholder value through efficient operations,
organic growth and accretive acquisitions, while maintaining its
financial strength. A member of the S&P/TSX Composite Index and the
S&P/TSX Global Mining Index, HudBay is committed to high standards
of corporate governance and sustainability.
Forward Looking Information
This
news release and its attachments contain "forward-looking information"
within the meaning of applicable securities laws. Forward looking
information includes but is not limited to
information concerning the potential impact of changing economic
conditions on HudBay's financial results, 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", "understands" 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 views, opinions, intentions 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 anticipated or projected in the forward-looking
information (including the actions of other parties who have agreed to
do certain things and the approval of certain regulatory bodies).
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 risks associated with the mining industry such as
economic factors (including future commodity prices, currency
fluctuations and energy prices), failure of plant, equipment, processes
and transportation services to operate as anticipated, dependence on key
personnel and employee relations, environmental risks,
government regulation, actual results of current exploration activities,
possible variations in ore grade or recovery rates, permitting
timelines, capital expenditures, reclamation activities, land titles,
and social and political developments and other risks of the mining
industry, as well as those risk factors discussed in the company's
Annual Information Form dated March 30, 2009, which risks may cause
actual results to differ materially from any forward-looking statement.
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, or to
comment on analyses, expectations or statements made by third parties in
respect of HudBay, its financial or operating results or its
securities. The reader is cautioned not to place undue reliance on
forward-looking information.
(HBM-G)
SOURCE: HudBay Minerals Inc.
HudBay Minerals Inc.
John Vincic, Vice President
Investor Relations and Corporate Communications
(416) 362 0615
john.vincic@hudbayminerals.com
www.hudbayminerals.com
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