TORONTO, ONTARIO -- (Marketwire) -- 03/10/09 -- HudBay Minerals Inc. ("HudBay", "the company") (TSX: HBM) announces the resignation of Allen J. Palmiere as chief executive officer and as a director of the company, effective March 9, 2009.
"The Board of Directors thanks Allen for his service to HudBay, first as chairman, then as chief executive officer and director," said M. Norm Anderson, HudBay's chairman. "We wish him well in his future endeavours."
Colin K. Benner, P. Eng., a director of the company, has been appointed to the position of interim chief executive officer of HudBay, effective immediately. Mr. Benner is well-known in the industry and has been CEO for a number of mining companies.
"HudBay has unique opportunities with its cash reserves and a strong balance sheet," said Mr. Benner. "The board of directors and I are committed to realizing HudBay's potential and maximizing value for all shareholders. I look forward to leading the company as interim CEO, and overseeing the search for Mr. Palmiere's successor."
HudBay Minerals Inc.: Strength to Build the Future
HudBay Minerals Inc. (TSX: HBM) is a Canadian integrated mining company with assets in North and Central America principally focused on the discovery, production and marketing of base metals. The company's objective is to increase shareholder value through efficient operations, organic growth and accretive acquisitions, all while maintaining its financial strength. A member of the S&P/TSX Composite Index and the S&P/TSX Global Mining Index, HudBay Minerals is committed to high standards of corporate governance and sustainability.
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