Toronto, Ontario, October 6, 2010 - HudBay Minerals Inc. ("HudBay", the “company") (TSX: HBM) today hosted a ceremonial
Lalor project kick-off event in the Town of Snow Lake in northern Manitoba which was attended by the management team, the board
of directors and Manitoba Premier Greg Selinger.
In August 2010, HudBay made a commitment to the development of Lalor
by authorizing total expenditures of $560 million required
to advance the project to full production. Initial production from the
access ramp is scheduled in the second quarter of 2012 with full
production anticipated in late 2014. During the construction phase the
company expects to employ 600 workers, with 400 workers
employed during production.
“Not only is Lalor an important project for the future of our
company, it is also an exciting initiative for northern Manitoba and the
entire province,” said David Garofalo, President and CEO. “Our fast
track development of Lalor demonstrates our commitment to the
people and province of Manitoba where we have operated for more than 80
years and expect to continue operating for many years
to come.”
Premier Selinger expressed his support for the Lalor project and
acknowledged the significant contributions made to the provincial
economy and northern Manitoba communities by HudBay.
“The Snow Lake region has immense potential for copper, zinc, gold
and silver,” said Premier Selinger. “Projects like this highlight
the importance of the mining industry in the Manitoba economy, providing
high-paying jobs and supporting our northern
communities.”
The province is assisting the Town of Snow Lake by cost-sharing a
project manager to coordinate projects necessary for the growth
that will accompany mining industry expansion of this magnitude.
Manitoba continues to work with the mining industry to ensure there
are enough skilled workers to meet the industry’s labour needs.
Manitoba in collaboration with industry, educational institutions,
municipal and federal governments established the Northern
Manitoba Mining Academy. The academy, located in Flin Flon Manitoba on
land donated by HudBay, will provide relevant training to
prepare thousands of workers over several generations for sustainable
mining ventures.
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 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.
For further information, please contact:
HudBay Minerals Inc.
John Vincic
Vice President, Investor Relations and Corporate Communications
(416) 362 0615
Email: john.vincic@hudbayminerals.com
www.hudbayminerals.com