Hudson Bay Mining and Smelting
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| Public | |
| Traded as | : HBM : HBM |
| Founded | 1996 (as Pan American Resources Inc.) 1927 (as Hudson Bay Mining and Smelting Company, Limited) |
| Headquarters | Toronto, Ontario, Canada |
| Subsidiaries | Hudson Bay Mining and Smelting Co., Limited |
| Website | hudbayminerals.com |
HudBay is a Canadian mining corporation. Founded as Hudson Bay Mining & Smelting Co., Limited (HBM&S), it has been exploring and mining in Manitoba for over 80 years. Much of its history has centered on Flin Flon, Manitoba. HudBay now has operations in Manitoba, Peru, and Yukon.
The Flin Flon orebody was discovered by David Collins, a local trapper, and shown to Tom Creighton, a prospector, in 1914. The first claim was registered in 1915. It took more than a dozen years to bring the mine into production because the ore body was huge, of high grade, required large amounts of hydro energy, was isolated, and needed a smelter.
In 1927, the Whitney family of New York created HBM&S, which took over controlling interest in the Flin Flon property. By 1930, the mine, smelter, hydroelectric dam and railroad were in full operation.
On December 21, 2004, Hudbay Minerals (HudBay) acquired Hudson Bay Mining and Smelting (HBMS) for C$316 million from Anglo American plc. The purchase was financed by a public offering of C$143.8 million of equity and the issue of US$175 million of debt.
The corporate head office was in Winnipeg, Manitoba, Canada but moved to Toronto in 2008.
Founded as Pan American Resources Inc., the company first went public on the Montreal Exchange under the symbol PAN in the 3rd quarter of 1996.
Pan American acquired all of Ontzinc Corporation on March 12, 2002. Subsequently the company renamed itself OntZinc Corporation on August 15, 2002. Upon acquisition of Hudson Bay Mining and Smelting Co., Limited, the company renamed itself Hudbay Minerals Inc. on December 24, 2004.
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