- WORLD EDITIONAustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
Purpose Bitcoin ETF
Silver47 Exploration
Syntheia
Black Swan Graphene
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
The company is starting the permitting, community relations and technical activities required to access and conduct drilling on the concessions.
Hubay Minerals (TSX:HBM,NYSE:HBM) has entered into agreements to acquire three mining properties in Peru through its wholly owned subsidiary, Hudbay Peru.
The firm notes that the three assets, Caballito, Maria Reyna and Kusiorcco, are near its Constancia copper porphyry project, which is located in the southern province of Chumbivilcas.Â
Constancia consists of an open-pit mine, as well as the Pampacancha satellite deposit and a processing plant. According to Hudbay, copper concentrate and molybdenum concentrate are its principal products.
The company signed an option agreement with a private Peruvian consortium to earn a 100-percent interest in the Caballito and Maria Reyna properties. It signed a separate agreement with Panoro Minerals (TSXV:PML) to acquire the Kusiorcco property.
At 5,850 hectares, Maria Reyna is the largest of the the three properties, with Kusiorcco and Caballito following at 3,962 and 120 hectares. Caballito is located about 3 kilometers northwest of Constancia, and is the site of the former Katanga copper oxide mine, which concluded production in the early 1990s. Details of the agreements, including acquisition prices, have not been released.
Hudbay said it is commencing the permitting, community relations and technical activities required to access and conduct drilling activities on the concessions, and expects to provide further details on its exploration plans for these properties in due course.
The acquisitions follow a year of gains for copper prices, which are expected to remain supported in 2018 on demand from China and supply risks.Â
Strikes are a possibility at some mines in Peru and Chile, as over 30 labor contracts covering around 5 million tonnes of mine supply are set to expire during the year. BHP Billiton’s (ASX:BHP,NYSE:BHP,LSE:BLT) Escondida mine has an end-of-June deadline, and experienced a 44-day strike in Q1 2017 that cut production by about 214,000 tonnes.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Melissa Shaw, hold no direct investment interest in any company mentioned in this article.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.Â