On November 21, 2008, HudBay Minerals Inc. and Lundin Mining Corporation announced an agreement to combine their resources to create a new major Canadian leader in global mining.  The combination will create the third largest base metal company in Canada with a broad portfolio of producing assets and excellent near-term development opportunities diversified across metals and countries. The strength of new HudBay’s balance sheet will be complemented by an increase in long-life reserves, adding enhanced support to its world-class asset base. Details of the proposed transaction can be found here.

HudBay Minerals Inc. is a leading integrated base metals mining company with assets in North and Central America and a focus on the discovery and production of nickel, zinc and copper metal. HudBay is a member of the S&P/TSX Composite Index and the S&P/TSX Global Mining Index.

HudBay’s main production platform is located in northern Manitoba and includes the 777 mine, the Trout Lake mine, a concentrator, copper smelter and zinc plant at Flin Flon Manitoba. Near Snow Lake Manitoba, the Company operates the Chisel North mine and a concentrator. The Manitoba operations have benefited from a $435 million capital expenditure completed in early 2005 to bring the 777 and Chisel North mines into operation and expand and modernize the metallurgical plants. The Company also operates the Balmat zinc mine and concentrator in New York state. In addition HudBay produces zinc oxide at its Zochem facility in Brampton Ontario and produces copper cathode at its White Pine refinery in Michigan. The company markets its metals and zinc oxide through an agency agreement with Considar Metal Marketing which is based in Toronto and is 50% owned by HudBay.