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Hudbay Minerals Inc T.HBM

Alternate Symbol(s):  HBM

Hudbay Minerals Inc. is a copper-focused mining company. The Company has operations and pipeline of copper growth projects in tier-one mining-friendly jurisdictions of Canada, Peru, and the United States. The Company’s operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). Its growth pipeline includes the Copper World project in Arizona, the Mason project in Nevada (United States), the Llaguen project in La Libertad (Peru) and several expansion and exploration opportunities near its existing operations. The Company owns 75% of the Copper Mountain Mine, which is located south of Princeton, British Columbia. Copper Mountain Mine is a conventional open pit, truck, and shovel operation. The mine has approximately 45,000 tons per day plant that utilizes a conventional crushing, grinding and flotation circuit to produce copper concentrates with gold and silver credits.


TSX:HBM - Post by User

Post by Cuisdafutureon Mar 31, 2024 7:17pm
117 Views
Post# 35961972

Draft decree allows miners in Peru

Draft decree allows miners in Peru

Draft decree allows miners in Peru to exceed daily installed capacity by 10%



The Peruvian Ministry of Energy and Mines (Minem) presented a draft Supreme Decree to allow miners to increase their daily authorized production by up to 10% without applying for new permits.
Currently, excess production can reach up to 5% of the total allowed and if miners go over that limit, they have to pay a validation fee.
The decree was presented through Ministerial Resolution No. 125-2024-MINEM/DM, which modifies Article 3 of Supreme Decree No. 030-2016-EM.
“Concession holders can produce up to an additional 10% of the authorized installed daily mineral production capacity without having to request changes to the processing limits established in the concession permit based on existing mining regulations,” the draft states. “Mining activity has been seriously affected by the global economic crisis, the slowdown in production at mine sites and the loss of production generated by social conflicts, so it is technically viable and opportune to increase installed capacity by up to 10%.”
The decree also notes that increased capacity cannot be the result of building additional infrastructure, modifications to equipment and machinery operation parameters, and process improvements, among other considerations, already detailed in existing mining regulations.
The document, however, does not mention anything related to greater water usage at mine sites resulting from increased production.

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