Hudbay posts $51.9m quarterly loss as Peru suspension weighs

The eight-week suspension of operations at the Constancia mine, owing to Covid-19 measures in Peru, had a significant impact on gold and base metals miner Hudbay Minerals’ second-quarter results, with the company posting a $51.9-million, or $0.20 a share, net loss. After adjusting for the impact of the Peru suspension costs and partial reversal of the Peru inventory writedown, the adjusted net loss a share for the quarter was $0.15 a share and adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) was $49.1-million.