HudBay Minerals Inc.: Manitoba Premier Attends Ceremonial Lalor Project Kick-Off in Snow Lake
TORONTO, ONTARIO -- (Marketwire) -- 10/06/10 -- 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.
(HBM-G)
Contacts:
HudBay Minerals Inc.
John Vincic, Vice President, Investor Relations
and Corporate Communications
(416) 362 0615
john.vincic@hudbayminerals.com
www.hudbayminerals.com