TSX- and NYSE-listed Hudbay Minerals has finalised the land user agreement for the Pampacancha copper/gold deposit, which is located near its Constancia mine and processing facilities, in Peru.
The finalisation of the agreement means it now has full access to the site to start 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.
“This major milestone was achieved due to collaboration between the community and the Constancia team, which further demonstrates Hudbay’s strong social licence to operate in Peru," says Hudbay president and CEO Peter Kukielski.
Hudbay in January started pre-development activities, including haul road construction and site preparation work, at Pampacancha.
The deposit 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.