TCL Asset Group Inc. to Manage Sale of Surplus Assets from Hudbay's 777 Mine Site and Support Facilities related to the Zinc Casting Plant Operations

Sale Features Millions in Underground/Surface Rolling Stock, Power and Oxygen Plants as well as Extensive Site-Related Machinery, Inventory and Electrical Support Equipment

FLIN FLON, MB, March 23, 2022 /CNW/ - TCL Asset Group Inc., is pleased to announce that it has been awarded the contract to manage the sale of surplus assets from the Hudbay Minerals Inc. (Hudbay) Flin Flon flagship site in connection with the planned closure in Summer 2022.

The site is located on the border of the Manitoba and Saskatchewan provinces in northern Canada. The Flin Flon 777 mine (copper, zinc, gold, silver) has approached the end of its mine life after 17 stellar years. The Mill and Processing Facility has been in operations for almost a century. Site closure activities related to the 777 mine, the Oxygen Plant and Zinc Plant are expected to be completed by Fall 2022, while the Flin Flon Mill and tailings facility will be put on care and maintenance.

This 7-month asset sale project will consist of private negotiated sales commencing immediately, followed by an auction sale in August 2022. More information can be found at www.managingyourassets.com.

Assets available for sale include underground mining rolling stock and equipment, general mine site equipment, structure metals from the Zinc Plant, Powerhouse and Oxygen facilities and related machinery and equipment including new inventory, spare parts, consumables, and related assets.

"We are very excited to be heading up this sales process for Hudbay. Our experience working in northern Canada will help to maximize return on assets sold and provide a well organized and implemented plan. In turn, our buyers will have the opportunity to acquire well maintained assets from a top-tier mining operator." – Terrance Jacobs, CEO of TCL Asset Group Inc.

About TCL Asset Group Inc.
TCL Asset Group Inc. is a recognized leader in asset management and advisory services. Founded in 1958, the company specializes in machinery and equipment certified appraisals, auctions, private negotiated sales, and real estate auctions. TCL works throughout Canada, the United States, Mexico, Central and South America. Areas of expertise include: Mining; Construction; Food and Beverage; Plastics; Pharmaceuticals; Chemical; Power and other manufacturing and service based industries. 

SOURCE TCL Asset Group Inc.

For project details, please contact Terrance Jacobs, CEO of TCL Asset Group Inc., at [email protected] or 905-660-1367 or visit www.managingyourassets.com