HBM&S appraised for possible sale

The Hudson Bay Mining and Smelting company in Flin Flon could be on its way to having a new owner.

The Hudson Bay Mining and Smelting company in Flin Flon could be on its way to having a new owner.

The copper and zinc mining operation is currently owned by the British company Anglo American.

Tom Goodman, vice-president of technical services and human resources at HBM&S, says the company is undergoing an appraisal by its owner. But Goodman says people in Flin Flon need not worry.

"It is certainly not a sign that the mine is closing. It doesn't imply in any way that Anglo American is contemplating closure if a sale is not concluded," he says.

"Now that the metal prices have made a bit of a recovery from where they have been over the previous few years, it's just an opportune time for Anglo to see if the company has value."

Goodman does not know if any potential buyers are interested in HBM&S. He says the company has changed ownership several times since it first opened in Flin Flon more than 75 years ago.