Dual-listed Hudbay Minerals is preparing for the next phase of growth, focusing on mining the high-grade Pampacancha satellite deposit, in Peru, and completing the refurbishment of the New Britannia gold mill, in Canada.
Both projects, CEO Peter Kukielski says, require low capital intensity, but will yield high returns with short paybacks on the invested capital. Hudbay has budgeted $170-million in growth capital for 2020, $80-million of which will be spent at the Manitoba operations, $70-million in Peru and $20-million in Arizona.
The Manitoba spending relates to the New Britannia mill refurbishment, where construction activities are set to start in the second quarter of this year. Continue Reading →