TORONTO, ONTARIO -- (MARKET WIRE) -- 04/25/11 --
HudBay Minerals Inc. ("HudBay") (TSX: HBM)(NYSE: HBM) today announced it has committed $2 million to the Town of Snow Lake to assist funding the municipality's portion of a new waste water treatment plant. The total cost of the project is $7 million of which the municipality is required to raise a total of $2.8 million.
"We are pleased to participate with the Town of Snow Lake
in this initiative as it allows for the critical development of
necessary infrastructure improvements for the growing community," said Tom Goodman,
Senior Vice President and Chief Operating Officer. "This contribution
clearly demonstrates HudBay's long-term commitment to the Town of Snow Lake, the site of our advancing Lalor project."
HudBay also announced it had reached agreement with the Town of Snow Lake for increases to the grant-in lieu of taxes for 2011 and that it would also commit $100,000 toward repairs to the Snow Lake community hall roof.
"The quality of life available in Snow Lake
is a vital part of recruiting and maintaining a new work force for the
Lalor project and we feel that HudBay has recognized that fact with this
commitment to our town," said Clarence Fisher, Mayor, Town of Snow Lake.
"This is a powerful first step in the right direction for our community
and makes our waste water plant much more of a reality than it was a
few weeks ago."
HudBay Minerals Inc.
HudBay Minerals Inc. (TSX: HBM)(NYSE: HBM) is a Canadian integrated mining company with assets in North, Central and South 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.
(HBM-G)
Contacts:
HudBay Minerals Inc.
John Vincic, Vice President
Investor Relations and Corporate Communications
(416) 362 0615
john.vincic@hudbayminerals.com
Source: HudBay Minerals Inc.
News Provided by Acquire Media