HudBay Minerals Inc. and Skye Resources Inc. announced that they have entered into a definitive agreement to combine their respective businesses. For full story, click here
By Leia Michele Toovey- Exclusive to Zinc Investing News On the London Metal Exchange (LME), zinc prices have nearly halved to $1,198 a tonne from the end of 2007; last Thursday, lead fell to a two-year low in London. After reductions in automobile production, both General Motors Corp and Ford Motor Co cut vehicle production [...]
HudBay Minerals Inc and Ludin Mining said that they have agreed to a business combination (the “Transaction”) that will create a new Canadian leader in global mining. For full story, click here
HudBay Minerals Inc. announced its unaudited Q3 earnings. The net earnings were $2.8 mn compared with $66.5 mn in Q3 of 2007. Allen J. Palmiere, HudBay’s CEO, said” Our third quarter 2008 results demonstrate that we continue to execute on our production, exploration and strategic objectives. However, these results also reflect changing market conditions, as well as [...]
HudBay Minerals Inc. will close its Balmat, N.Y., zinc mine and concentrator due to increasing costs and declining zinc prices. For full news, click here For company’s website, click here
HudBay Minerals Inc. released its Q2 results. Net earnings in the second quarter were $33.2 million compared with $69.1 million in the second quarter of 2007. The lower average realized price for zinc was cited as one of the reasons for the decline in profits. For full news, click here
Lower zinc prices, coupled with acquisition of Skye Resources will reduce Hudbay’s cash flow and earnings this year by 39% and 58% respectively. Wellington West analyst Catherine Gignac has lowered the price target of the company from $18.50 to $14.75. For full information, click on this link
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