MANITOBA - Toronto-based HUDBAY MINERALS has released unaudited 2004 production results for its operations at Flin Flon. Ore production was up to 2.55 million tonnes for the full year (compared with 2.2 million tonnes in 2003). Base metal production fell slightly to 110,200 tonnes of zinc (117,900 tonnes in 2003) and 76,900 tonnes of copper (83,400 tonnes in 2003). Byproduct recovery for gold was 79,000 oz (61,000 oz in 2003) and for silver was 1.12 million oz (1.01 million oz in 2003).
Estimates of proven and probable reserves for HudBay's four mines were also released. The total is 21.60 million tonnes at 2.2% Cu and 4.8% Zn. The new 777 mine has the largest reserves: 16.60 million tonnes with grades of approximately 2.4% Cu and 4.7% Zn.
HudBay completed the purchase of Hudson Bay Mining & Smelting from ANGLO AMERICAN on Dec. 21, 2004. HudBay's audited results for 2004 will include HBMS results for only the period following HudBay's acquisition of HBMS. The audited results will be available at the end of this month; check www.HudBayMinerals.ca.
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