Zinc miner HudBay, VMS Ventures in copper JV

摘要

Canadian zinc miner HudBay Mineralsnsaid Tuesday it has via its subsidiarynentered into a joint-venture deal and fournoption agreements with VMS Ventures onnHudBay’s Reed Lake copper site and adja-ncent mineral properties held by VMS innManitoba’s Flin Flon Greenstone Belt.nUnder the deal, HudBay has a 70% inter-nest and VMS a 30% stake in Reed Lakenand two claims immediately to the south,nthe miner said. The agreement givesnHudBay authority over the site’s develop-nment, and confers on the Toronto-basednminer exclusive rights to purchase andnmarket the property’s ore.