Hudbay Minerals, Inc. (HBM, HBM.TO), a prominent copper mining entity, announced on Monday that it has finalized a settlement with all parties involved in three civil lawsuits concerning alleged incidents in Guatemala during 2007 and 2009. This settlement effectively resolves all remaining legal issues tied to Hudbay's past activities in the region.
The civil suits were directed at Hudbay due to its ownership of the Fenix nickel project, which the company acquired in 2008. Notably, one of the lawsuits, initiated by 11 female plaintiffs, involves allegations against the Guatemalan-owned project that precede Hudbay's acquisition. In 2011, Hudbay disengaged from its Guatemalan interests and has not conducted any operations there since.
The settlement, reached with the plaintiffs, explicitly states it is made without any admission of liability, and both parties maintain fundamentally opposing perspectives regarding the events in question, particularly concerning the alleged misconduct of Hudbay's subsidiaries.
