Hudbay Announces Completion of Consulta Previa at Pampacancha

TORONTO, Jan. 11, 2021 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE: HBM) today announced that in accordance with Peru’s Consulta Previa law, additional consultation between the Peruvian government and the local community of Chilloroya has been completed with the community’s support. Upon completion of the Consulta Previa process, the Peruvian regulators granted Hudbay the final mining permit for the development and operation of the Pampacancha deposit. The company is working toward completion of the remaining individual land-user agreements to allow for full site access for development at Pampacancha.

In January 2021, the company commenced limited pre-development activities including haul road construction and site preparation work. Pre-stripping activities are expected to commence once all of the individual land-user agreements have been completed. The company will provide updated 2021 production and cost guidance with its fourth quarter and full year 2020 results in February.

“We are pleased that the government and the community were able to complete the Consulta Previa process despite challenges caused by the pandemic,” said Peter Kukielski, Hudbay’s President and Chief Executive Officer. “This milestone demonstrates the strong relationships with our local communities, and we are grateful for their support as we pursue the development of Pampacancha for the benefit of all of our stakeholders.”

Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian and United States securities legislation. Forward-looking information includes, but is not limited to, plans to commence the development of Pampacancha. Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by the company at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward-looking information.