Hudbay Commences Pampacancha Pit Development
April 07 2021 - 9:00AM
Hudbay Minerals Inc. (“Hudbay” or the “company”)
(TSX, 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.
“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 Peter Kukielski, Hudbay’s President and Chief
Executive Officer. “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.”
In January 2021, the company commenced
pre-development activities, including haul road construction and
site preparation work, which will allow Hudbay 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.
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, plans to commence the development
of Pampacancha. 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, the expected timing of
pre-stripping and production activities on the Pampacancha deposit
and no significant unanticipated delays to the full development of
Pampacancha.
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), risks associated with the political
situation in Peru, risks associated with the rainy season in Peru
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 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). The company’s growth strategy
is focused on the exploration, development, operation and
optimization 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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