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HudBay Minerals delays Guatemala nickel project
Free Press today
HudBay Minerals Inc. is delaying development of the $1.1-billion Fenix nickel project in Guatemala until metal prices return to normal.
Officials from the mining company that operates the massive zinc and copper complex in Flin Flon said it remains committed to building the new nickel mine once market conditions make it economically feasible.
This week, the company reported a 96 per cent drop in profits for the quarter to $2.8 million and a decline in revenue to $247.4 million compared with $319.8 million for the same period the year before.
HudBay shares were up 11 cents on Wednesday to $6.25.
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