11:38 AM EST, 01/02/2025 (MT Newswires) -- Hudbay Minerals ( HBM ) was at last look on Thursday up 5% on the TSX as it received an Air Quality Permit for the Copper World project from the Arizona Department of Environmental Quality, and appears to have changed board chair seamlessly.

HBM in a statement released mid-morning today said issuance of the permit is "a significant milestone in the advancement of the project as it is the final major permit required for the development and operation of Copper World", which is expected to produce 85,000 tonnes of copper per year over an initial 20-year mine life.

This came after the company earlier today said Stephen Lang had stepped down as chair of the board "due to health reasons", but had been replaced by David Smith, current independent director, effectively yesterday. Lang will remain on the board as an independent director.

"David is an experienced financial executive in the mining space, and with his extensive Board expertise and deep knowledge of Hudbay, he will bring valuable insights to this important leadership role as we continue to execute our strategy and advance our next phase of growth," said Carin Knickel, chair of Hudbay's corporate governance and nominating committee.

Hudbay's share price at last look gained near 5% to $12.25 in early Thursday trading.

Price: 12.19, Change: +0.53, Percent Change: +4.55