Local News

Callinan has received its latest payment from Hudbay

Callinan Royalties has received interim quarterly payments for the quarter ending September 30th of just over 2 million dollars from the six and two thirds net profits interest royalty and just over 113 thousand dollars from the production royalty of 25 cents per ton of ore from Hudbay.  This is down from payments of just over 3 million dollars in the same quarter last year.  The payments are due to Callinan’s royalty interests on lands that include the Triple Seven and Triple Seven North mines in Flin Flon.

             

Callinan CEO Roland Butler says the Triple Seven mine encountered some challenges earlier this year, yet there were production increases at Triple Seven and contributions from the Triple Seven North ramp.  He says with weaker metal markets, their royalty revenue for the recent quarter was negatively impacted however he adds operational issues have been managed and Hudbay has reported that mining of high grade copper zones is planned for the near future.

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