After beginning the year by formally appointing Peter Kukielski as its CEO, and this month settling a long-drawn-out boardroom battle with its second-largest investor, Canadian copper producer Hudbay Minerals (TSX, NYSE: HBM) is setting its sights on gold.
Despite strong performance at its Canadian operations, Hudbay swung to a loss in the first three months of the year, mainly due to weak base metal prices and lower grades at its Constancia copper mine in Peru.
Then the pandemic hit, and Peru operations were halted, but it had no material impact on the business as a whole, Kukielski told MINING.COM. Hudaby expects a delay of up to four months before it can start mining an extension at Constancia. Continue Reading →