HudBay suffers operating loss, but projects growth

Nov 02, 2012 | 04:24 PM | Samuel Frizell

Tags  HudBay Minerals, Trout Lake Mine, zinc, copper, precious metals, John Vincic, Samuel Frizell

NEW YORK — HudBay Minerals Inc.’s third-quarter revenue fell 31.9 percent year on year as the Canadian miner closed its Trout Lake Mine in Manitoba and ore sales fell due to a drawdown of excess inventory, the company said in an earnings report Thursday.

Revenue totaled nearly Canadian $144.7 million ($145.2 million) for the three months ended Sept. 30, down from $212.3 million in the year-ago quarter. The company posted a loss from continuing operations of C$6.1 million ($6.12 million) in the third quarter, an improvement from the C$16.1-million loss in the same quarter of 2011.....

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