Hudbay Minerals (TSX: HBM) has secured regulatory approval to lift permitted mill capacity at its Constancia copper mine in Peru to 34 million tonnes of ore per year, up from 31 million tonnes.
The approval came from Peru’s environmental certification agency, SENACE, which signed off on an amended environmental permit in late June. It is the fifth such amendment at the mine.
The increase builds on a March approval that raised the permitted rate to 31 million tonnes from 29.9 million tonnes. Peru’s mining rules also let operators run up to 10% above nominal daily capacity, giving Hudbay additional room above the new ceiling.
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Constancia milled 30.3 million tonnes of ore in 2025, which translated to 85,155 tonnes of copper and 74,480 ounces of gold.
That extra capacity is expected to be achieved following the installation of two pebble crushers in the second half of the year to push milling rates toward roughly 90,000 tonnes per day. It’s a lever the company needs now that grades are easing. The high grade Pampacancha satellite pit was depleted in December, leaving the wider mine to draw entirely on lower grade Constancia ore.
The amended permit also clears further changes to the mine plan, extends Constancia’s operating life, and adds infrastructure for tailings transport and water management.
Hudbay Minerals last traded at $33.49 on the TSX.
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