Canada’s HudBay to sell Guatemala’s Fenix nickel project to Russia’s Solway

Aug. 08, 2011 05:31AM PST

Mineweb reports HudBay (TSE:HBM) sold the eastern Guatemalan nickel operation to Russia’s Solway Group for $170 million.

Mineweb reports HudBay (TSX:HBM) sold the eastern Guatemalan nickel operation to Russia’s Solway Group for $170 million.

The market news is quoted as saying,

HudBay Minerals said it has entered into an agreement to sell 100% of its 98.2%-owned Fenix ferro-nickel project in Guatemala to Russia’s Solway Group for US$140 million in cash at closing and $30 million during the course of Solway’s development of the project.

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