Local News

Hudbay has a partner in Peru

Hudbay has entered into an amended precious metals stream agreement with Silver Wheaton Corporation pursuant to which Hudbay will receive an additional 135 million dollar deposit against delivery of 50 percent of payable gold from the Constancia project in Peru under spelled out conditions.


In August last year Hudbay entered into the initial precious metals stream transaction with Silver Wheaton providing for upfront deposit payments of 750 million dollars in respect of 100 percent of payable gold and silver from Hudbay’s Triple Seven mine until the later of December 31st, 2016 and satisfaction of a completed test at Constancia, following which the obligation to deliver gold will be reduced to 50 percent of payable gold and 100 percent payable silver from Constancia under spelled out condtions.


Hudbay President David Garofalo says this stream transaction provides them with additional, non-dilutive capital as they continue development of  Constancia and the Lalor project near Snow Lake.


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