start here

start here

The Daily IKN email digest, get all daily posts sent to you next day (& no ads)

11/8/16

HudBay (HBM) (HBM.to) isn't telling you everything

As usual.

A few minutes ago the company confirmed via NR that its Constancia mine's operations have been suspended, but they got all coy about how many and why, preferring to state that "The trespassers have yet to present specific demands".

Therefore allow IKN to inform Alan Hair, because the details and demands have been in the local press for the past couple of hours. There are around 5,000 angry locals involved in the protest and they have indeed entered the mine and stopped production, but the demands are already on the table, the main one being that HBM finally gets round to fulfilling its end of the community agreement signed by all parties in 2013. Locals state flat out that once HBM signed the piece of paper for the community projects they agreed to fund, the company disappeared and has ignored them ever since, without funding a penny of the agreed deals. Along with that main complaint, locals are also calling into question the environmental impact agreement awarded to Constancia because, they say, it makes no mention of the severe environmental damage done to local land in the area of direct influence (yup, it's that truck and dust thing again).