Deals
HudBay Sees Buyers’ Market for Mining Projects
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HudBay Minerals Inc., the third-best-performing Canadian mining stock this year, is willing to spend about C$400 million ($402 million) on deals to replenish its development pipeline.
The copper and zinc producer, which expects to more than quadruple copper output by 2015, will capitalize on a “buyers’ market” for mining assets as small companies struggle to raise funds and larger competitors consider sales, Chief Executive Officer David Garofalo said yesterday. HudBay would be comfortable spending about 20 percent of its C$1.99 billion market value, he said.