Business
Hudbay Minerals Provides Business Update
TORONTO, March 20, 2020 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE: HBM) today provided an update on the status of its oper
About this update from Hudbay Minerals Inc
[{"type":"text","content":" TORONTO, March 20, 2020 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE: HBM) today provided an update on the status of its operations and business preparedness plans in light of the COVID-19 coronavirus pandemic. The company has been closely monitoring the status of the virus outbreak and the rapidly changing environment at all of its operations. Company-wide business preparedness plans were activated earlier this month as part of the company’s crisis management protocols. In response to the challenging environment in Peru following the Peruvian government’s recent declaration of a state of emergency, the company has commenced a temporary and orderly shutdown of operations at Constancia, as described in more detail below. “It is an uncertain time, but we remain vigilant and ready to respond to the ever-changing environment to ensure we protect all of our stakeholders and the continuity of our business,” said Peter Kukielski, Hudbay’s President and Chief Executive Officer. The Peruvian government declared a state of emergency on March 15th requiring non-essential businesses to be shut down for 15 days, and subsequently clarified that mining operations could continue in certain circumstances during this period. The company has been actively managing the situation and the Constancia mine continued to operate, and concentrate transportation activities continued this week, including a vessel that completed loading yesterday at the port of Matarani. However, the state of emergency has rapidly changed the environment, causing the manufacturing and transport of critical supplies to be suspended. As such, with the limited availability of certain critical mining supplies, the company has initiated a temporary and orderly shutdown of operations at Constancia. The shutdown process is expected to continue over the next three days. A smaller workforce will be maintained to oversee critical aspects of the operation, with the overarching goal of facilitating a quick and efficient ramp up back to normal levels once the regional situation improves. The Constancia team continues to be focused on the health and safety of its workforce and to actively engage with local stakeholders to ensure effective implementation of the business preparedness plan. The company also expects the government processes related to Consu...