HudBay posts loss on unsold copper

May 01, 2014 | 04:38 PM | Saranya Kapur

Tags  HudBay Minerals, copper, David Bryson, David Garofalo, earnings report, Saranya Kapur

NEW YORK — HudBay Minerals Inc. fell $27.2 million in the red in the first quarter as copper sales fell well short of production.

The Vancouver, British Columbia-based miner said its results were negatively affected by an accumulation of copper as 29 percent of production in the quarter went unsold.

"We do still have some inventory right now; we’re starting to see spring in Toronto and New York, but it’s still cold up north," HudBay senior vice president and chief financial officer David Bryson said during an earnings conference call. "We expect to bring that (material) down over the second quarter, and over the....

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