Local News

Callinan has wrapped up 2012 payments from Hudbay

Callinan Royalties Corporation has received a payment of just under 5 million dollars from Hudbay Minerals which includes interest and represents the remaining balance of payments for 2012 to Callinan and brings total royalty payments from the 2012 calendar year to almost 20 million dollars.

             

Interim quarterly payments were made throughout the year estimated by Hudbay to represent 75 percent of six and two thirds percent of net profits from the Triple Seven Mine and Triple Seven North Mine plus 25 cents per ton of ore mined.  This payment represents the remaining 25 percent which is paid with interest in July.

             

The payments are derived from Callinan’s royalty interests on lands that include these two mines in Flin Flon.

 

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