Vedanta Resources Plc (VED), an Indian oil and metals producer, sold its stake in HudBay Minerals Inc.
“Vedanta sold its total share position of approx 15 million shares to a diverse collection of institutional shareholders,” HudBay Chief Executive Officer David Garofalo said in an e-mail today.
Vedanta said in 2009 that a subsidiary controlled 9.5 percent of Toronto-based HudBay, a miner of zinc, copper, gold and silver, as closely held Vedanta sought to expand in North America.
E-mails sent to London-based Vedanta’s corporate communications office weren’t immediately returned.
HudBay fell 4.8 percent to C$9.87 in Toronto. The shares have slumped 2.7 percent this year.
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