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11/21/12

Lima welcomes HudBay Minerals (HBM) (HBM.to) to its stock exchange

Good to see that HudBay Minerals (HBM) (HBM.to) is expanding its footprint in the world by listing on the Bolsa de Valores de Lima (i.e the Peru stock exchange) as it begins to ramp up its Constancia mine project in that country. Let's hope it brings best practices to the country too rather than the way it's previously run its Latin America operations. The following from this:

“The brutal and arbitrary shooting of Adolfo Ich was caused by the negligent management of Hudbay Minerals both in Canada and in Guatemala,” reads the Statement of Claim filed by Angelica Choc in the Ontario Superior Court of Justice. Ich and Choc had five children. Their son José, who witnessed the killing, says the security guards hacked at Adolfo with a machete before shooting him in the head.

Angelica Choc is confident that her case is solid. “We know very well who those responsible are, they can’t tell us otherwise,” she said. “We lived it, we’re the ones who have suffered, here, in the flesh.”
The same day Ich was brutally murdered, German Chub was shot by mine security, permanently losing the use of his lower body. The man responsible for the killings, Mynor Padilla, has been jailed in Guatemala since September of this year. Despite high levels of conflict in the area, Chub's Statement of Claim alleges, “Hudbay Minerals continued to engage under-trained, inadequately supervised and unlawful security personnel while failing to implement or enforce standards of conduct that would adequately govern and control their conduct.” 


Anyway, they're sure to make themselves at home in Peru.