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Toronto-based miner HudBay Minerals (TSX: HBM) plans to spend US$901mn of the US$1.5bn Constancia copper project construction budget this year. Located in Peru's Cusco region, Constancia is the key to HudBay's exploration portfolio, according to CEO David Garofalo. The construction phase is expected to last nine months, "with initial production to start in late 2014 and full production commencing in the second quarter of 2015," HudBay said in a press release. Current activity at the site includes the construction of a tailings facility, haul roads, water diversion infrastructure and a construction camp to house workers. Access roads are expected to be completed in 2Q13, with tailings management and waste rock facilities to follow in 3Q13. As per an agreement with the local community, HudBay is constructing new housing and relocating families in the affected area. So far 13 of the 23 affected families have been relocated, the firm said. HudBay is also carrying out a feasibility study of the Pampacancha satellite exploration area.
