HudBay to defer spending after 2d qtr. loss

Aug 02, 2013 | 11:14 AM | Everdeen Mason

Tags  copper, hudbay minerals inc, earnings report, Everdeen Mason

NEW YORK — HudBay Minerals Inc. will reduce capital investments and defer spending on mining projects after its second-quarter net loss jumped 78 percent to Canadian $52.69 million ($50.82 million) from C$29.61 million a year earlier.

The Toronto-based company blamed the deeper loss and a 31.2-percent decline in sales to C$130.66 million ($125.97 million) on lower production following the closure of its Trout Lake and Chisel North mines in Manitoba in 2012, as well as a foreign currency translation loss and lower prices.....





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