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Hudbay Minerals Breaks Ground at New Ingerbelle Expansion Project in British Columbia

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Hudbay Minerals (HBM.TO) Thursday said it recently broke ground at the New Ingerbelle expansion project, part of its Copper Mountain mine in British Columbia.

New Ingerbelle is expected to produce about 750,000 tonnes of copper, 900,000 ounces of gold and 5.5 million ounces of silver over the life of mine, based on current mineral reserves. The expansion is expected to generate more than C$11.5 billion in provincial GDP, while preserving more than 800 direct jobs and generating more than C$2.2 billion in labour income.

The expansion project is designed to access higher-grade mineralization and features a stripping ratio about three times lower than current mining area, Hudbay said.

New Ingerbelle is part of the Government of British Columbia's list of priority resource projects. The groundbreaking ceremony was attended by officials including Tim Hodgson, Canada's minister of energy and natural resources, and Jagrup Brar, British Columbia's minister of mining and critical minerals.

"The opening of New Ingerbelle enhances the copper and gold production profile at Copper Mountain, secures more than 800 full-time jobs beyond 2040 and ensures the mine continues to deliver economic benefits at the local, regional and federal levels," CEO Peter Kukielski said.

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