In 2020, the mine produced 73,150 tonnes of copper, 12,395 ounces of gold and over 1.62 million ounces of silver. This year, its production guidance is set at 72,000-88,000 tonnes of copper, 40,000-50,000 ounces of gold, 1.8-2.17 million ounces of silver and 1,400-1,700 ounces of molybdenum.
“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 CEO, in a media brief.
“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,” he added.
In January 2021, Hudbay began pre-development activities, including haul road construction and site preparation work, which will allow the company to commence pre-stripping activities shortly.
Shares of Hudbay Minerals were down 1.0% on the TSX by noon Wednesday. The diversified Canadian miner has a market capitalization of approximately C$2.57 billion.