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HudBay reports net second-quarter loss of $172 million, citing asset impairment over Fenix project in Guatemala

Thursday, August 11, 2011

\ Canada’s HudBay Minerals has cited major asset impairment charges mainly related to the Fenix nickel project in Guatemala for driving the company deeply into the red in the second quarter.\ \ The Toronto-based miner posted a net loss of $171.9 million, compared with a profit of $4.3 million in the same 2010 period.\ \ HudBay recognized pre-tax impairment losses of $212.7 million on the Fenix project and $1.4 million related to available-for-sale investments.\ \ Original source: Canadian Press\ \ \ \