CLOSURE PLANS – HudBay commits $75 million

MANITOBA - Winnipeg-based HUDBAY MINERALS has completed an evaluation of the closure and reclamation plans for its ...
MANITOBA - Winnipeg-based HUDBAY MINERALS has completed an evaluation of the closure and reclamation plans for its Manitoba and Saskatchewan operations. The review was conducted by subsidiary Hudson Bay Mining & Smelting, which has mines and mills in Flin Flon and Snow Lake.

"I am pleased our closure and reclamation provisions have been confirmed," said Peter R. Jones, president & CEO of HudBay. "Through HBMS' ISO 14001 Environmental Management System, HudBay is committed to outstanding environmental performance, and our intention to spend up to $1.0 million annually for ongoing remediation will enhance this objective."

HudBay has submitted its updated plans to the governments of Manitoba and Saskatchewan. The 2005 combined value of the financial assurance provided to the governments is more than $75 million. The company's sustainability reports are available at www.HudBayMinerals.com.

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