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35-474: The Flin Flon orebody was discovered by David Collins, a local trapper, and shown to prospector Tom Creighton in 1914. The first claim was registered in 1915. It took more than a dozen years to bring the mine into production because the huge, high grade ore body required large amounts of hydro energy, was isolated, and copper production required a smelter . In 1927, Cornelius Vanderbilt Whitney (a member of

70-780: A 6 to 1 basis, and then raising funds by issuing new shares on the Stockholm Stock Exchange effective December 2003 and then on the Toronto Stock Exchange in August 2004. The company quickly expanded over the next several years, re-naming itself as Lundin Mining, as it acquired the Zinkgruvan Mine in Sweden from Rio Tinto for US$ 100 million plus other compensation measures. Consequently, 2004

105-476: A friendly merger with Hudbay Minerals which at the time owned 20% of Lundin Mining. This was followed by a failed merger with Inmet Mining in 2011 and a hostile merger with Equinox Minerals being fended off. With the failed mergers, Lundin conducted a strategic review of its assets and operations and ended up replacing its CEO with Paul Conibear. With the Storliden and Galmoy mines ending production and

140-934: A high-grade satellite copper deposit located only four kilometres from the Constancia mine. Hudbay owns two copper deposits in the United States, the Rosemont project, located in Arizona, and the Mason project, located in Nevada. In 2019, Hudbay produced 137,179 tonnes of copper, 114,692 ounces of gold and 119,106 tonnes of zinc. The company reported that cash generated from operating activities decreased to $ 310.9 million from $ 479.6 million in 2018 and operating cash flow before change in non-cash working capital decreased to $ 307.3 million from $ 501.4 million in 2018. The decrease

175-553: A hostile takeover attempt of Nevsun Resources but failed as white knight Zijin Mining agreed to pay a 57% premium over Nevsun's stock price. CEO Paul Conibear was reportedly not in favour of the takeover attempt and opted to retire, being replaced by Marie Inkster. Instead, the company acquired the Chapada mine in Brazil from Yamana Gold in 2019 for US$ 1 billion. In 2022, Lundin Mining acquired TSX-listed Josemaria Resources, in

210-479: A result of underground exploration, Hudbay discovered a substantial orebody that would become its flagship 777 mine in Flin Flon. On December 21, 2004, OntZinc Corporation acquired HBM&S for C$ 316 million from Anglo American plc . The purchase was financed by a public offering of C$ 143.8 million of equity and the issue of US$ 175 million of debt. The company then changed its name to Hudbay Minerals Inc. Hudbay

245-592: A stock and cash deal, which was pursuing development of a copper-gold-silver deposit in San Juan Province, Argentina . In 2023, the company moved its head office from Toronto to Vancouver, British Columbia. In December 2023, Jack Lundin became the company's CEO, replacing Peter Rockandel. In March 2023, the company acquired a 51% interest in the Caserones copper-molybdenum mine from JX Nippon Mining & Metals for consideration of $ 950 million. Ownership

280-494: Is a Canadian company that owns and operates mines in Sweden, United States, Chile, Portugal and Brazil that produce base metals such as copper, zinc, and nickel. Headquartered in Toronto , the company was founded by Adolf Lundin and operated by Lukas Lundin . While it was incorporated to pursue an interest in a diamond mine in Brazil, the company re-structured and raised funds to develop the Storliden mine in Sweden. It purchased

315-802: Is also subject to ongoing land claims by local Mayan communities. In 2006, the International Labour Organization , an agency of the United Nations , ruled that Guatemala had breached international law by granting the Fenix mining concession without first consulting with local Mayan people. The ILO released a report discussing the violation in 2007. In late 2006 and early 2007, Skye Resources (acquired by Hudbay Minerals in 2008, renamed HMI Nickel and subsequently sold by Hudbay in 2011) sought forced evictions of Mayan communities located on contested mine land. Homes were burned to

350-660: Is the result of lower copper sales volumes and lower margins mainly from lower realized base metal prices. The Fenix ferro-nickel project in Guatemala is owned by Compañía Guatemalteca de Niquel (CGN), which was 98.2% owned by Hudbay Minerals from August 2008 to September 2011. The Fenix Project in eastern Guatemala is a substantial brownfield nickel laterite mine and process plant that has been on care and maintenance since 1980. Hudbay Minerals and two of its subsidiaries are subject to an ongoing $ 12 million lawsuit in Canada over

385-564: The Paleoproterozoic period. The Flin Flon – Snow Lake greenstone belt is 250 km long by 75 km wide and is exposed just north of McClarty Lake. The belt is bounded by metasedimentary gneisses and metavolcanics of the Kisseynew Domain to the north and extends to the south where it is unconformably overlain by Ordovician age dolomite . "The Flin Flon – Snow Lake belt is one of the most prolific mining belts in

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420-727: The Whitney family of New York ), along with Newmont Mining Corp and Mining Corp of Canada Ltd., founded Hudson Bay Mining & Smelting (HBM&S), which took over controlling interest in the Flin Flon property. By 1930, the mine, smelter, hydroelectric dam and railroad were in full operation. Eight years later, the company was listed on the New York Stock Exchange under the symbol HBM. In 1958, Hudbay opened its first mine in Snow Lake, 215 kilometres east of Flin Flon. Six years later, production began at Stall Lake Mine. In

455-448: The 1960s, Hudbay also gained a new major investor, Anglo America, a South African mining company. Throughout the 1970s and 1980s, Hudbay continued to mine and explore in and around Flin Flon and Snow Lake, discovering new deposits, such as Trout Lake and Chisel North, and starting production at new mines, like Anderson Lake. After more than 60 years in operation, in 1992, Hudbay closed its original Flin Flon mine; however, one year later, as

490-577: The 777 mine, along with all production operations in Flin Flon. Founded as Pan American Resources Inc., the company first went public on the Montreal Exchange under the symbol PAN in the 3rd quarter of 1996. Pan American acquired all of OntZinc Corporation on March 12, 2002. Subsequently, the company renamed itself OntZinc Corporation on August 15, 2002. Upon acquisition of HBMS, the company renamed itself Hudbay Minerals Inc. on December 24, 2004. On August 26, 2008, Hudbay Minerals announced

525-706: The Aguablanca's short expected mine life, another round of acquisitions occurred. In July 2013, the company acquired the developing Eagle Mine project in Michigan from Rio Tinto for $ 325 million, and Freeport-McMoRan 's 80% ownership stake in the Candelaria mine in Chile for US$ 1.8-billion, and a 24% interest in a cobalt refinery in Kokkola , Finland. However, the company was pushed into selling its interest in

560-472: The Rosemont project. As of 2020, Hudbay is in the process of appealing the decision. In January 2018, Hudbay acquired mining properties near its Constancia mine in southern Peru. In December of the same year, the company announced the acquisition of all remaining issued and outstanding common shares of Mason Resources. This acquisition gave Hudbay ownership of the Ann Mason project in Nevada. In March 2019,

595-710: The Storliden mine. In October 2006, the company merged with TSX -listed Eurozinc, owner of the Neves-Corvo mine , in an all-stock deal that gave Eurozinc shareholders 56% ownership of the combined company. In another all-stock deal, they merged with TSX -listed Tenke Mining for its 24% stake in the Tenke Fungurume Mine which was being developed by Phelps Dodge and purchased all shares of TSX -listed Rio Narcea Gold Mines for its Aguablanca nickel mine in Spain. With five operating mines across Europe in 2008,

630-727: The Swedish Zinkgruvan Mine from Rio Tinto and then merged with Arcon International Resources for its Galmoy Mine in Ireland and with Eurozinc for its Neves-Corvo mine in Portugal. The company subsequently purchased and operated the Eagle mine , Candelaria mine , and Chapada mine . The company was founded in 1994 by Adolf Lundin as South Atlantic Diamonds Corp, listed on the TSX Venture Exchange , for

665-619: The Tenke Fungurume Mine, for $ 1.5 billion, to BHR Partners as part of a larger deal between Freeport-McMoRan and China Molybdenum and then its stake in Kokkola cobalt refinery as its joint venture partner Freeport-McMoRan agreed to sell it to Umicore . Addressing corporate sustainability , the company joined the United Nations Global Compact in 2016. They made several bids throughout 2018 in

700-486: The closure of the 777 Mine and zinc plant located in Flin Flon in 2022, Hudbay currently operates a single underground mine in the province of Manitoba . The Lalor Mine is located near Snow Lake and produces gold, zinc and copper. In Peru, Hudbay operates the Constancia mine, an open pit mine that achieved commercial production in 2015. The mine produces copper and molybdenum concentrates. Hudbay also owns Pampacancha,

735-575: The company confirmed plans to shut down its operations in Flin Flon in the second quarter of 2022. On February 18, 2020, the community of Chilloroya formally approved a surface rights agreement with Hudbay for the Pampacancha satellite deposit located near the Constancia mine in Peru. In May 2020, Hudbay announced that it would be spending $ 115 million to refurbish its New Britannia Mill, expected to be completed in 2022. In September 2022 Hudbay closed

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770-473: The company was producing over 150,000 tonnes of zinc, 90,000 tonnes of copper and 8,000 tonnes of nickel annually. The silver being produced by the mines was attributed to Wheaton Precious Metals based on precious metals streaming contracts. Former Tenke Mining CEO Phil Wright replaced Karl-Axel Waplan as CEO and the company changed its plans to relocate its headquarters from Vancouver to Geneva and instead moved to Toronto. The company attempted, but failed,

805-787: The completion of a business combination with Skye Resources Inc. Skye Resources was renamed HMI Nickel, and was a subsidiary of Hudbay Minerals until Hudbay divested of the project through the sale of its interest in CGN to the Solway Group in September 2011. In November 2008, Hudbay Minerals and Lundin Mining announced an agreement to merge. However, in February 2009, after a ruling by the Ontario Securities Commission that Hudbay must allow its shareholders to vote on

840-592: The death of Chamán. In June 2013, the Ontario Superior Court of Justice ruled that the Canadian company could be held legally responsible for crimes committed in Guatemala, including the alleged murder of Adolfo Ich Chamán and the alleged sexual assault of 11 women from Lote Ocho. A jury notice was filed in December 2013. As of February 2018, the court action was ongoing. The Fenix mining project

875-473: The ground during these evictions. Flin Flon greenstone belt The Flin Flon greenstone belt , also referred to as the Flin Flon – Snow Lake greenstone belt , is a Precambrian greenstone belt located in the central area of Manitoba and east-central Saskatchewan , Canada (near Flin Flon ). It lies in the central portion of the Trans-Hudson orogeny and was formed by arc volcanism during

910-587: The killing of a prominent Mayan community leader at the Fenix Mining Project. The lawsuit alleges that on September 27, 2009, security personnel employed at the Fenix mine surrounded, beat and hacked at Adolfo Ich Chamán with machetes before shooting him in the head at close range in an unprovoked attack. An arrest warrant was issued for the Head of Security at the Fenix mine, Mynor Ronaldo Padilla Gonzáles. A non-governmental organization has referred to

945-695: The mine began in August 2012 and commercial production commenced in April 2015. That same year, Hudbay acquired the New Britannia mill from QMX Gold in Manitoba. Plans to refurbish the mill were shared by Hudbay in February 2019 as part of its updated plan to double gold production at Lalor. Hudbay bought Augusta Resource Corporation in June 2014 and with it, acquired its Rosemont copper project in Arizona. Hudbay received all permits required to build and operate

980-657: The mine's ex-security chief, Mynor Ronaldo Padilla Gonzáles pleaded guilty and was convicted of Indigenous leader Adolfo Ich Chamán's murder. The mining firm is also accused of litany of abuses in Central America. Hudbay states that it and CGN have cooperated fully with all investigations conducted by Guatemalan authorities in connection with the incidents which occurred on September 27, 2009, in El Estor . CGN carried out an internal investigation and determined that none of its employees or security personnel were involved in

1015-591: The mine, with the final record of decision received in June 2017 and 404 Water Permit received in March 2019. Following 10 years of consultations and studies, in August 2019 the U.S. District Court for the District of Arizona (“Court”) issued a ruling in the lawsuits challenging the U.S. Forest Service's issuance of the Final Record of Decision. As per the ruling, Hudbay was barred from proceeding with construction of

1050-416: The murder as the "targeted killing of a well-known community leader." Amnesty International has stated with respect to the murder allegation "[t]he allegations are very serious, and Amnesty International calls for a swift, full and impartial investigation into the death of Adolfo Ich Chamán and other incidents of violence, to make the results public and to bring those responsible to justice". On 6 January 2021

1085-705: The plan, the companies announced that the deal had been terminated after realizing it was unlikely to win shareholder support. On January 9, 2009, Hudbay Minerals suspended operations (and continue on care and maintenance) at Chisel North Mine in Snow Lake, Manitoba . The mine stopped producing in late February 2009, due to falling zinc metal prices and increased costs, and restarted operations in 2010. Directly, and through its subsidiaries, Hudbay owns two polymetallic mines, and three ore concentrators in northern Manitoba and Saskatchewan (Canada) and Cusco (Peru), and copper projects in Arizona and Nevada (United States). With

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1120-513: The purpose of investing in a diamond mine in Brazil. The company changed its name to South Atlantic Resources as it invested in another company, called North Atlantic Natural Resources, attaining a 39% ownership as it explored the Storliden and Norrbotten mineral deposits in northern Sweden. Along with Boliden AB , the Storliden mine was developed and began producing, in 2002, zinc and copper. The company re-structured in March 2002, renaming itself to South Atlantic Ventures and consolidating its stock on

1155-759: The world. A multitude of base and precious metal deposits of various sizes have been found in this relatively small area, some 250 km long and 45 km wide. There have been 25 operating mines in this area starting with the Mandy Mine, which first went into production in 1916. Most of these mines produce copper–zinc and associated precious metals, although at least three produced principally gold and silver." General topics Canadian provincial geology 54°46′N 101°53′W  /  54.77°N 101.89°W  / 54.77; -101.89 Lundin Mining Lundin Mining Corporation

1190-680: Was also listed on the TSX under the symbol HBM. In 2007, Hudbay located a significant zinc deposit near Snow Lake that became known as Lalor. The deposit also contained a large volume of gold, large enough to support its own mine. Initial production began in 2012 and the mine officially opened in September 2014. In 2008, shortly after the Lalor deposit recovery, the corporate head office relocated to Toronto, Ontario from Winnipeg, Manitoba. In March 2011, Hudbay acquired Norsemont Mining Inc. and its Constancia copper mine in Peru for $ 520 million. Construction on

1225-555: Was the first year the company recorded attributable mineral production, with over 150,000 tonnes of zinc, 2 million ounces of silver, along with lead and copper, being produced. Then, in March 2005, they acquiring the Irish Stock Exchange -listed company Arcon International Resources and its Galmoy Mine for US$ 63 million in cash and a 14% ownership stake in Lundin Mining followed by acquiring full ownership of

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