One on one with the CEO of Hudbay Minerals
David Garofalo, president and CEO of Hudbay Minerals, is leading the company into an exciting era
David Garofalo has been involved in the development of 13 mines in 22 years, and has been with Hudbay Minerals for just over two years now. — Photo courtesy Hudbay Minerals
Earlier this year, Hudbay Minerals celebrated 85 years of success in Manitoba. The company's president and CEO, David Garofalo, is incredibly excited about the future of the company, with its investment of $800 million into the Lalor and Reed mines.
Mining & Exploration had a chance to catch up with Garofalo to find out more on his success and his passions outside the job.
You have been CEO of Hudbay now for over two years; what have been your greatest accomplishments?
Our greatest accomplishment is the revitalization of our storied 85-year-old mining camp in northern Manitoba, with the decision to invest over $800 million in our next generation of mines (Lalor and Reed). We also introduced a new and exciting growth opportunity in a new district for Hudbay in southern Peru with the acquisition of and commencement of construction at Constancia.
In 2011, Inside Investor Relations awarded you Best Investor Relations by a CEO for your work at Hudbay; tell us about the award and how it felt to win.
I believe that award stemmed from our efforts to reintroduce Hudbay to the market after several tumultuous years with many management and strategic changes. We were able to create some goodwill in the market by bringing Hudbay back to a clear strategy that was true to its core strengths of exploration and mine development in good mining jurisdictions. It was gratifying for the entire team to win the award because it provided us some early validation to the direction we were taking the company.
Hudbay is experiencing great success in Manitoba—what do you most look forward to in 2013?
We look forward to completing the lion's share of mine construction at both Constancia and Lalor, (as well as to) the startup of Reed. By the end of 2013, we believe much of the execution risk will be behind us, and our shareholders should start to enjoy the substantial fruits of patient investment in new mine development.
What are your passions outside work?
I enjoy helping my three kids pursue their passions. Two are competitive soccer players and one is pursuing a career in aviation. In between, I squeeze in as much time as I can road cycling and playing softball.
What do you love most about the mining industry and mining in Manitoba specifically?
This industry creates tremendous wealth from seemingly nothing in often remote parts. The process of discovery, construction and operation is incredibly dynamic, exciting and addictive—and the communities we help create around the mines is a wonderful byproduct of our efforts. With the three mines Hudbay is now building, I have been involved in the development of 13 mines in 22 years, and it never gets old. I live in Toronto but love visiting Flin Flon, which is one of the greatest family-oriented mining communities I have ever seen—and I am optimistic that Snow Lake will enjoy a renaissance thanks to Lalor.
