{"id":1114195,"date":"2019-05-03T10:51:01","date_gmt":"2019-05-03T10:51:01","guid":{"rendered":"http:\/\/www.mining.com\/?p=985552"},"modified":"2019-05-03T10:51:01","modified_gmt":"2019-05-03T10:51:01","slug":"hudbay-minerals-settles-board-battle-with-shareholder-waterton","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1114195","title":{"rendered":"Hudbay Minerals settles board battle with shareholder Waterton"},"content":{"rendered":"<p>Canada\u2019s Hudbay Minerals\u2019 (TSX, NYSE: HBM) has settled a <a href=\"http:\/\/www.mining.com\/hudbay-mineral-investor-calls-special-shareholder-meeting\/\"  rel=\"noopener\">long-dragged boardroom battle<\/a> with its second-largest investor, Waterton Global Resource Management, which had been pushing for replacing <a href=\"http:\/\/www.mining.com\/waterton-steps-efforts-oust-hudbay-minerals-ceo-board\/\"  rel=\"noopener\">the miner\u2019s chief executive officer<\/a>\u00a0and overhaul the board.<\/p>\n<p>The <a href=\"https:\/\/www.hudbayminerals.com\/English\/Media-Centre\/News-Releases\/News-Release-Details\/2019\/Hudbay-and-Waterton-Announce-Settlement-Agreement\/default.aspx\"  rel=\"noopener\">announcement<\/a> comes two weeks after Waterton, which holds about 12% of Hudbay, <a href=\"http:\/\/www.mining.com\/hudbay-minerals-investor-waterton-takes-miner-court\/\">filed a lawsuit<\/a> against the base metals producer, in a bid to constrain its ability to solicit proxies during upcoming annual shareholder meeting, scheduled for May 7.<\/p>\n<p>Both companies have agreed on 11 nominees to Hudbay\u2019s board and have also committed to find a successor to Alan Hibben, currently the chair of the Toronto-based miner&#8217;s board. After he steps down as chair, Hibben will remain on the board until the 2020 annual meeting of shareholders.<\/p>\n<p>Much of Waterton&#8217;s discontent was triggered by Hudbay\u2019s <a href=\"http:\/\/www.mining.com\/hudbay-doesnt-deny-rumours-interest-chiles-mantos-copper\/\"  rel=\"noopener\">alleged intention to buy Chile&#8217;s Mantos Copper<\/a> for about C$1 billion ($780 million)\u00a0last year.<\/p>\n<p>Hudbay mines for zinc and copper, primarily in Canada\u2019s Manitoba province, and also has operations in Peru and Arizona.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"http:\/\/www.mining.com\/hudbay-minerals-settles-board-battle-shareholder-waterton\/\">Hudbay Minerals settles board battle with shareholder Waterton<\/a> appeared first on <a rel=\"nofollow\" href=\"http:\/\/www.mining.com\/\">MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canadian miner will elect 11 nominees of Waterton Global Resource Management, its second largest shareholder, as part of the settlement that ends a long-dragged battle over control of Hudbay.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"http:\/\/www.mining.com\/hudbay-minerals-settles-board-battle-shareholder-waterton\/\">Hudbay Minerals settles board battle with shareholder Waterton<\/a> appeared first on <a rel=\"nofollow\" href=\"http:\/\/www.mining.com\/\">MINING.com<\/a>.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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