Online auctions of Hudbay Flin Flon assets begin next week

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Hudbay and an Ontario company will sell many of the company’s remaining assets in the Flin Flon area next week.

Hudbay and an Ontario company will sell many of the company’s remaining assets in the Flin Flon area next week.

The company and TCL Asset Group, an Ontario-based asset management and auction group, will oversee three days of sales to unload equipment not otherwise sold by Hudbay, moved to its Snow Lake operations or retained for eventual restart. Flin Flon factory if necessary.

In total, the companies plan to sell more than 2,000 individual assets during the sale, ranging from small items to heavy equipment and everything in between.

The sale will take place as a three-day web-based live auction next week – first, rolling stock items like trucks, trailers, vans and wheeled equipment, generators and pumps will go on sale September 20. The next day, items from the casting plant and the power plant on the block, along with the mining hoists, cranes, electrical assets and oxygen plant items. The third and final day, September 22, will include spare parts, storage items, pumps, hoists, and other miscellaneous items.

“We announced this sale worldwide – we announced it for a month,” said Terrance Jacobs, CEO of TCL Asset Group.

“There has been huge interest around the world.”

Items from parts of the Flin Flon Hudbay operations have already been sold, particularly items from the Flin Flon cell. An RFP has already taken place for airframe items, while some items have been put on presale throughout the summer and purchased.

“This is a great opportunity not only for other mining companies and other businesses in industries such as mining, oil and gas, pulp and paper to purchase equipment from sale, but also for small businesses that have a small fleet of equipment or need equipment, and also individuals,” Jacobs said of the sale.

“There will be many people who only bid for their own use, either at home or in their stores.”

The auction company has held sales similar to those of Hudbay in Canada, the United States, Mexico and Central and South America in several different sectors, including construction, food and beverage, plastics, chemicals, pharmaceuticals and real estate.

Hudbay and TCL have been working together since January, when the mining company began planning the sale of excess equipment. News of the agreement between the two groups became public in March.

“We have been working together for months on this project. We’ve had other sales, we’ve sold other assets for them over the past few months,” Jacobs said, adding that the sale will be administered from the company’s base in Ontario, but not expecting no blockage due to distance.

“The fact that we’re in Ontario is not really a problem, because we come, we extract the information and we put it online and we sell it. We don’t have to be there every day, but there’s a lot to do to collect the information, publish it, make sure the information is correct.

Once the items are purchased, the buyer will cover the costs of getting the items to the site – TCL will oversee the extraction of the items from the Hudbay compound, but buyers will cover the costs and be responsible for shipping articles.

Registration for the sale can be made on the TCL Asset Group website at managementyourassets.com.

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