Hudbay kicks-off Constancia mine expansion
(Kitco News) - Hudbay Minerals (TSX:HBM; NYSE: HBM) today announced that the final land user agreement for Pampacancha has been completed and Hudbay now has full access to the site to begin pit development activities.
The company said that in January 2021, Hudbay commenced pre-development activities, including haul road construction and site preparation work, which will allow the company to commence pre-stripping activities shortly.
Pampacancha is a high-grade copper and gold satellite deposit located approximately seven kilometres from Hudbay's Constancia mine and processing facilities in Peru. Pampacancha is expected to contribute to an increase in copper and gold production at Constancia from 2022 to 2025 as the higher grades enter into the mine plan.
"We are very pleased to have completed the final land user agreements at Pampacancha and we remain on track for first production in the second quarter of 2021, in line with guidance," said President and CEO Peter Kukielski. "This major milestone was achieved due to collaboration between the community and the Constancia team, which further demonstrates Hudbay's strong social license to operate in Peru."
Hudbay is a diversified mining company primarily producing copper concentrate (containing copper, gold and silver) and zinc metal. Directly and through its subsidiaries, Hudbay owns three polymetallic mines, four ore concentrators and a zinc production facility in northern Manitoba and Saskatchewan (Canada) and Cusco (Peru), and copper projects in Arizona and Nevada (United States).