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Market Chatter: HudBay Sees Buyers' Market for Mining Projects
By: MT Newswires
"HudBay Minerals Inc. (HBM.TO), the third best performing Canadian mining stock this year, is willing to spend as much as 20% of its C$1.95 billion ($1.96 billion) market value on deals to replenish its development pipeline," Bloomberg reported.
It reported: "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."