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Hudbay Minerals settles board battle with shareholder Waterton

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May 3 (Reuters) - Hudbay Minerals Inc said on Friday it has reached an agreement with private equity firm Waterton Global Resource Management Inc, under which eleven nominees will now be elected to miner's board of directors.

Waterton and Hudbay Minerals have been locked in a battle after the PE firm urged the miner to replace its chief executive officer and nominated five directors to the company's board. (Reporting by Shradha Singh in Bengaluru; Editing by Shailesh Kuber)