The Canadian miner believes Menankoto is legally entitled to a permit renewal and is engaged in ongoing discussions with the government to clarify the situation.
The world's no.1 heavy machinery maker reported third-quarter earnings that topped analysts’ estimates, but said the ongoing trade dispute resulted in $40 million in extra costs for materials in the period.
Company said feasibility study for its Boto gold asset outlines an economically robust, low cost production project which will produce 140,000 ounces of gold annually on average over a 13-year lifespan.
Objective is to expand upon the Father's Day Vein high grade gold discovery at the A Zone area of the Beta Hunt mine, near Kambalda, Western Australia.
Private equity firm Waterton Global Resource Management, which now owns about 7 percent of Hudbay, called meeting after the Canadian base and precious metals refused a proposal for board changes.
The government has introduced new regulations to ban asbestos and products containing asbestos, but they don't apply to residues left from mining the carcinogenic material.
The mining and quarrying industry is seeking government funding for an airborne geophysical survey program, considered an essential tool for attracting investment and job creation to the province.
The company is also seeking direct talks with the country's government, as it's been excluded so far from negotiations between controlling shareholder, Barrick Gold, and President John Magufuli.