HudBay Minerals’ Fourth-quarter Profits Plunge

Mining Weekly reported that HudBay Minerals Inc.’s (TSX:HBM) fourth-quarter profits dropped by nearly 80 percent year-over-year due to dwindling sales and lower metal prices.

As quoted in the market news:

Total revenue for the fourth quarter was $181-million, which was $73.3-million lower than the same period in 2011. This decrease was mainly owing to lower sales volumes compared with the fourth quarter of 2011, when the company drew down on unusually high copper concentrate inventory.

To view the whole Mining Weekly report, click here.