Hudbay Announces Receipt of Section 404 Water Permit for Rosemont
March 08 2019 - 5:53PM
Hudbay Minerals Inc. (“Hudbay” or the “company”)
(TSX, NYSE: HBM) announced today that the
U.S. Army Corps of Engineers ("Army Corps") has issued a Section
404 Water Permit (the “404 Permit”) for Hudbay’s Rosemont Project.
Rosemont has already received the Final Record of Decision from the
U.S. Forest Service (“USFS”), a process that involved 17
co-operating agencies at various levels of government, 16 hearings,
over 1,000 studies, and 245 days of public comment resulting in
more than 43,000 comments. Now that the 404 Permit has been issued,
Hudbay expects to receive Rosemont’s Mine Plan of Operations from
the USFS shortly and looks forward to moving the project into
development.
“The receipt of Rosemont’s 404 water permit is a
major milestone in our efforts to build a modern mine that will
fulfill the requirements of its permits, create jobs and provide
benefits for all of our stakeholders,” said Alan Hair, Hudbay’s
president and chief executive officer. “There is positive momentum
at Rosemont and across our business as we continue to position
Hudbay to create long-term and sustainable value for shareholders.
We appreciate the diligence that the Army Corps has put into its
consideration of Rosemont’s permit application, and look forward to
advancing Rosemont into construction.”
Hudbay will continue to execute its plan
regarding the Rosemont project and will provide updates as
developments warrant.
Forward-Looking Information
This news release contains forward-looking
information within the meaning of applicable Canadian and United
States securities legislation. Forward-looking information
includes, but is not limited to, expectations regarding the final
Mine Plan of Operations, the timing, cost and benefits of
developing the Rosemont project and Hudbay’s future plans for
Rosemont. Forward-looking information is not, and cannot be, a
guarantee of future results or events. Forward-looking information
is based on, among other things, opinions, assumptions, estimates
and analyses that, while considered reasonable by the company at
the date the forward-looking information is provided, inherently
are subject to significant risks, uncertainties, contingencies and
other factors that may cause actual results and events to be
materially different from those expressed or implied by the
forward-looking information.
The material factors or assumptions that Hudbay
identified and were applied by the company in drawing conclusions
or making forecasts or projections set out in the forward-looking
information include, but are not limited to, obtaining the final
permits for Rosemont and obtaining any required joint venture
partner approvals to advance the project, the timing and possible
outcome of pending litigation related to the Rosemont permits, no
significant unanticipated litigation or delays to the development
of Rosemont and the availability of financing to develop
Rosemont.
The risks, uncertainties, contingencies and
other factors that may cause actual results to differ materially
from those expressed or implied by the forward-looking information
may include, but are not limited to, risks generally associated
with the mining industry, such as economic factors (including
future commodity prices, currency fluctuations, energy prices and
general cost escalation), as well as the risks discussed under the
heading “Risk Factors” in Hudbay’s most recent Annual Information
Form.
Should one or more risk, uncertainty,
contingency or other factor materialize or should any factor or
assumption prove incorrect, actual results could vary materially
from those expressed or implied in the forward-looking information.
Accordingly, you should not place undue reliance on forward-looking
information. Hudbay does not assume any obligation to update or
revise any forward-looking information after the date of this news
release or to explain any material difference between subsequent
actual events and any forward-looking information, except as
required by applicable law.
About Hudbay
Hudbay (TSX, NYSE: HBM) is an integrated mining
company primarily producing copper concentrate (containing copper,
gold and silver), molybdenum concentrate and zinc metal. With
assets in North and South America, the company is focused on the
discovery, production and marketing of base and precious metals.
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).
The company’s growth strategy is focused on the exploration and
development of properties it already controls, as well as other
mineral assets it may acquire that fit its strategic criteria.
Hudbay’s vision is to be a responsible, top-tier operator of
long-life, low-cost mines in the Americas. Hudbay’s mission is to
create sustainable value through the acquisition, development and
operation of high-quality, long-life deposits with exploration
potential in jurisdictions that support responsible mining, and to
see the regions and communities in which the company operates
benefit from its presence. The company is governed by the Canada
Business Corporations Act and its shares are listed under the
symbol "HBM" on the Toronto Stock Exchange, New York Stock Exchange
and Bolsa de Valores de Lima. Further information about Hudbay can
be found on www.hudbay.com.
For further information, please contact:
Candace BrûléDirector, Investor Relations(416)
814-4387candace.brule@hudbay.com
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