Hudbay Minerals Secures Approval to Boost Mill Throughput at Constancia Mine in Peru
Hudbay Minerals (HBM.TO, HBM) on Thursday said it secured regulatory approval to further increase the annual mill processing capacity at the Constancia copper mine in Peru.The National Environmental Certification Service for Sustainable Investments in Peru amended the environmental permit allowing Hudbay to raise the processing capacity of the Constancia mill to 34-million tonnes per year of ore from 31-million tonnes per year previously.The updated permit reflects Peru's regulatory framework that permits miners to operate up to 10% above nominal daily capacity, according to Hudbay.Hudbay said it now has a steady-state capacity of 34-million tonnes per annum. In March, the company received approval to increase the Constancia mill's throughput capacity to 31-million tonnes from 29.9-million tonnes.The amended environmental permit also approved further optimization of the mine plan, while extending the operational life of Constancia. It also outlined the implementation of additional infrastructure to improve tailings transport infrastructure and water management systems, Hudbay said.The company's shares were last seen up 2.3% to $23.11 in premarket New York trading. They closed down 0.5% to C$33.49 Wednesday on the Toronto Stock Exchange.
