TORONTO – Hudbay Minerals' 2014 production numbers benefited slightly from the start up of the Constancia project in Peru. Although the new mine contributed only 571 tonnes of copper in concentrate before year end, the company recorded production of 37,644 tonnes of copper, 82,542 tonnes of zinc, and 85,703 oz of gold and silver from its other operations. Commercial production at Constancia will be reached in Q2 2015.
Copper production in Manitoba last year was within guidance, but zinc and precious metals fell slightly below due to mine sequencing and a shaft shutdown. In 2015 copper production will more than double to between 140,000 and 175,000 tonnes thanks to three new mines: Lalor and Reed in Manitoba as well as Constancia. Zinc production this year is expected to be between 95,000 and 120,000 tonnes, and precious metals will be between 135,000 and 170,000 oz.
Hudbay says capital expenditures will be about $425 million in 2015, down 60% from the 2014 level due to completion of major projects. The budget includes sustaining capital of $320 million for producing mines, permitting and engineering costs at the Rosemont copper project in Arizona, and capitalized exploration.
Find detailed information about all of the company's mines and projects at HudbayMinerals.com.
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