TORONTO, ONTARIO--(Marketwire - April 25, 2011) - HudBay Minerals Inc. ("HudBay") (News - Market indicators)(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. (News - Market indicators)(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.