Hudbay Minerals appoints Bilfinger CEO Thomas Schulz to its board. The mining veteran brings 25+ years of experience to oversee copper growth projects.
Hudbay Minerals Inc. (NYSE: HBM) has appointed Thomas Schulz to its board of directors, bringing in a mining-sector veteran with more than 25 years of executive experience. The appointment was announced Monday.
Schulz is the chief executive officer of Bilfinger SE, a German industrial services provider. He spent nine years as group CEO of FLSmidth, which supplies equipment and services to the mining industry, and held senior roles at Sandvik over more than a decade, including president of its construction unit. He also sits on the board of Konecranes PLC and previously served as a director at Norsk Hydro ASA and Boart Longyear Group Ltd. Schulz holds a PhD in mineral mining and quarrying and an engineering diploma in mineral processing from RWTH Aachen University.
"Thomas' extensive leadership experience across the globe and significant knowledge of the mining industry make him an excellent addition to our Board," Chair David Smith said in the release. "I am confident his strategic insights will be invaluable as the Board oversees Hudbay's continued growth through the execution of our strong pipeline of brownfield and greenfield projects."
The appointment comes as Hudbay advances a slate of copper growth projects. Its operating portfolio includes the Constancia mine in Peru, the Snow Lake operations in Manitoba and the Copper Mountain mine in British Columbia. Copper is the primary metal, with gold production and by-product zinc, silver and molybdenum rounding out output.
The growth pipeline includes the Copper World project in Arizona, which recently locked in 4.50% financing through $52 million in Arizona IDA bonds, plus the Cactus project in Arizona, Mason in Nevada and Llaguen in Peru. Schulz's background in mining services and equipment supply gives him direct familiarity with the capital equipment and operational side of exactly the kind of expansions Hudbay is pursuing.
His appointment also adds European industrial connections to a board that oversees operations across the Americas. Hudbay's Alpha Score sits at 78, reflecting solid fundamentals as the company pushes its copper-focused strategy. The stock trades on both the TSX and NYSE.
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