Exhibit 99.3
MATERIAL CHANGE REPORT
FORM 51-102F3
Item 1 | Name and Address of Company |
HudBay Minerals Inc.
25 York Street, Suite 800
Toronto, ON M5J 2V5
Item 2 | Date of Material Change |
August 5, 2011
Item 3 | News Release |
A news release with respect to the material change referred to in this report was disseminated through Marketwire on August 5, 2011 and subsequently filed on SEDAR.
Item 4 | Summary of Material Change |
On August 5, 2011, HudBay Minerals Inc. (“HudBay”) announced that it had entered into a definitive agreement to sell 100% of its interest in the Fenix ferro-nickel project in Guatemala (the “Fenix Project”) to Solway Investment Group Limited and certain of its affiliates (collectively, the “Solway Group”).
Item 5 | Full Description of Material Change |
On August 5, 2011, HudBay signed a definitive agreement (the “Agreement”) to sell 100% of its interest in the Fenix Project to the Solway Group. Pursuant to the terms of the Agreement, HudBay will receive US$140 million in cash at closing and US$30 million upon the satisfaction of certain conditions during the course of the Solway Group’s development of the Fenix Project.
Completion of the transaction is expected to occur during the third quarter of 2011.
Item 6 | Reliance on subsection 7.1(2) of National Instrument 51-102 |
Not applicable.
Item 7 | Omitted Information |
Not applicable.
Item 8 | Executive Officer |
David Bryson, Senior Vice President and Chief Financial Officer
Telephone: (416) 362 8181
Item 9 | Date of Report |
August 10, 2011
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