Hudbay Minerals Inc. (“Hudbay” or the “company”)
(TSX, NYSE: HBM) announced today that it
is hosting a site visit by analysts and investors to its Lalor mine
in Manitoba on April 15-16, 2019. A copy of the site visit
presentation, which contains operational, exploration and other
updates, is available on Hudbay’s website at www.hudbay.com. Hudbay
also today released its first quarter 2019 Manitoba production
results and provided an update on exploration drilling results at
its Snow Lake properties.
Summary
- The Lalor mine completed ramp up to a nominal throughput rate
of 4,500 tonnes per day in February 2019, resulting in record
quarterly production
- The Stall concentrator achieved record quarterly production as
a result of operating and maintenance improvements
- Production results in the first quarter are on track to achieve
full year production guidance
- Follow-up drilling on the recently discovered 1901 Zone between
Lalor and Chisel North continues to intersect significant
mineralization o 100 metre step-out drill hole intersected 6 metres
of 12.68% Zn, 0.18% Cu, 0.79g/t Au and 89.9g/t Ag o Other holes
confirm extension along strike to the northwest with 31.2 metres of
6.17% Zn, 0.11% Cu, 0.38g/t Au and 19.1g/t Ag, and 7.2 metres of
8.84% Zn, 0.45% Cu, 1.16g/t Au and 50.4g/t Ag
- Evaluating plans to develop an underground exploration platform
from the existing Chisel-Lalor ramp in order to drill the 1901
Zone; if this zone is confirmed to be economic, the exploration
infrastructure could allow for a quick ramp up to production
- Initial mineral reserve estimates on WIM, Pen II and New
Britannia deposits expected with the 2019 annual year-end reserve
and resource update
“Our Manitoba business unit delivered strong
production performance in the first quarter of 2019, as a direct
result of the ongoing efforts of our operations team to drive
continued improvements and efficiencies,” said Alan Hair, Hudbay’s
president and chief executive officer. “We are also very pleased
with the recent results from our exploration activities, including
further drilling in our newly discovered 1901 Zone, which
demonstrates the substantial value creation potential of our
Manitoba business.”
Manitoba Mine Production |
|
|
Three months ended |
|
|
Mar. 31, 2019 |
|
Mar. 31, 2018 |
|
|
|
|
|
|
|
777 |
|
|
|
|
|
Ore |
tonnes |
278,522 |
|
258,386 |
|
Copper |
% |
1.65 |
|
1.22 |
|
Zinc |
% |
3.18 |
|
4.86 |
|
Gold |
g/tonne |
1.70 |
|
2.08 |
|
Silver |
g/tonne |
21.75 |
|
30.11 |
|
|
|
|
|
|
|
Lalor |
|
|
|
|
|
Ore |
tonnes |
388,483 |
|
322,554 |
|
Copper |
% |
0.76 |
|
0.67 |
|
Zinc |
% |
6.70 |
|
5.67 |
|
Gold |
g/tonne |
1.68 |
|
2.06 |
|
Silver |
g/tonne |
25.96 |
|
27.24 |
|
|
|
|
|
|
|
Reed1 |
|
|
|
|
|
Ore |
tonnes |
- |
|
122,309 |
|
Copper |
% |
- |
|
3.54 |
|
Zinc |
% |
- |
|
0.93 |
|
Gold |
g/tonne |
- |
|
0.70 |
|
Silver |
g/tonne |
- |
|
9.43 |
|
|
|
|
|
|
|
Total Mines |
|
|
|
|
|
Ore |
tonnes |
667,005 |
|
703,249 |
|
Copper |
% |
1.13 |
|
1.37 |
|
Zinc |
% |
5.23 |
|
4.55 |
|
Gold |
g/tonne |
1.69 |
|
1.83 |
|
Silver |
g/tonne |
24.21 |
|
25.20 |
|
|
|
|
|
|
|
1 Mining activities at Reed were completed in
August 2018. Comparable 2018 numbers include 100% of Reed mine
production. Hudbay purchased 30% of the Reed ore production from
its joint venture partner on market-based terms.
Hudbay increased ore mined at 777 in the first
quarter of 2019 by 8% compared to the same period last year. The
higher production was due to improved availability of the scoop and
truck fleet, and a focus on improving the key performance
indicators in the drilling, blasting and backfilling processes. Ore
mined at Lalor in the first quarter of 2019 increased by 20%
compared to the same period last year. The Lalor production ramp up
to a nominal 4,500 tonnes per day was achieved in February 2019.
Higher production volumes in the quarter were due to having more
mining fronts available and improvements to the stope cycle
time.
Manitoba Processing Facilities |
|
|
Three months ended |
|
|
Mar. 31, 2019 |
|
Mar. 31, 2018 |
|
Flin Flon Concentrator |
|
|
|
|
|
Ore |
tonnes |
289,244 |
|
391,627 |
|
Copper |
% |
1.55 |
|
1.73 |
|
Zinc |
% |
3.49 |
|
4.16 |
|
Gold |
g/tonne |
1.66 |
|
1.76 |
|
Silver |
g/tonne |
21.78 |
|
24.55 |
|
|
|
|
|
|
|
Copper concentrate |
tonnes |
16,744 |
|
27,176 |
|
Concentrate grade |
%
Cu |
23.54 |
|
22.91 |
|
|
|
|
|
|
|
Zinc concentrate |
tonnes |
16,910 |
|
27,808 |
|
Concentrate grade |
%
Zn |
49.41 |
|
49.57 |
|
|
|
|
|
|
|
Copper recovery |
% |
88.1 |
|
91.9 |
|
Zinc recovery |
% |
82.9 |
|
84.7 |
|
Gold recovery |
% |
61.8 |
|
64.8 |
|
Silver recovery |
% |
52.3 |
|
58.8 |
|
|
|
|
|
|
|
Contained metal in concentrate produced |
|
|
|
|
|
Copper |
tonnes |
3,941 |
|
6,226 |
|
Zinc |
tonnes |
8,354 |
|
13,784 |
|
Precious metals1 |
ounces |
11,033 |
|
16,938 |
|
|
|
|
|
|
|
Stall Concentrator |
|
|
|
|
|
Ore |
tonnes |
321,523 |
|
276,742 |
|
Copper |
% |
0.78 |
|
0.61 |
|
Zinc |
% |
6.75 |
|
5.85 |
|
Gold |
g/tonne |
1.75 |
|
2.07 |
|
Silver |
g/tonne |
26.89 |
|
27.72 |
|
|
|
|
|
|
|
Copper concentrate |
tonnes |
11,112 |
|
7,709 |
|
Concentrate grade |
%
Cu |
19.69 |
|
18.53 |
|
|
|
|
|
|
|
Zinc concentrate |
tonnes |
38,493 |
|
29,403 |
|
Concentrate grade |
%
Zn |
51.13 |
|
51.01 |
|
|
|
|
|
|
|
Copper recovery |
% |
87.2 |
|
85.1 |
|
Zinc recovery |
% |
90.7 |
|
92.7 |
|
Gold recovery |
% |
59.1 |
|
61.4 |
|
Silver recovery |
% |
64.2 |
|
60.6 |
|
|
|
|
|
|
|
Contained metal in concentrate produced |
|
|
|
|
|
Copper |
tonnes |
2,188 |
|
1,429 |
|
Zinc |
tonnes |
19,683 |
|
14,998 |
|
Precious metals1 |
ounces |
13,233 |
|
13,469 |
|
1 Precious metals production includes gold and
silver production on a gold-equivalent basis. Silver is converted
to gold at a 70:1 ratio.
Ore processed in Flin Flon in the first quarter
of 2019 was 26% lower than the same period in 2018. The lower
processing volumes were a result of the Reed mine closure, and
sustained improvements at the Stall concentrator resulting in less
ore transported to Flin Flon for processing, partially offset by
increased ore production from the 777 mine. Ore processed at the
Stall concentrator was 16% higher in the first quarter of 2019
compared with the same period in 2018, as a result of ongoing
operational and maintenance improvements.
Manitoba contained metal in
concentrate produced1,2 |
Three months ended |
|
Guidance |
|
Mar. 31, 2019 |
|
Mar. 31, 2018 |
|
Annual 2019 |
|
|
|
|
|
|
|
|
|
Copper |
tonnes |
6,129 |
|
7,655 |
|
22,000 –
25,000 |
|
Gold |
ounces |
20,205 |
|
25,675 |
|
- |
|
Silver |
ounces |
284,265 |
|
331,252 |
|
- |
|
Zinc |
tonnes |
28,037 |
|
28,782 |
|
100,000 –
115,000 |
|
|
|
|
|
|
|
|
|
Precious metals3 |
ounces |
24,266 |
|
30,407 |
|
105,000 –
125,000 |
|
|
|
|
|
|
|
|
|
1 2018 figures include 100% of Reed mine
production. Hudbay has a 70% interest in the Reed mine and
purchased 30% of the Reed ore production from its joint venture
partner on market terms.2 Metal reported in concentrate is prior to
deductions associated with smelter terms.3 Precious metals
production includes gold and silver production on a gold-equivalent
basis. Silver is converted to gold at a 70:1 ratio.
In the first quarter of 2019, copper, gold, and
silver production was 20%, 21% and 14% lower, respectively,
compared to the same period in 2018 due to the closure of Reed
mine, partially offset by increased production at 777 and Lalor.
Zinc production was 3% lower compared to the same period in 2018
due to lower 777 zinc grade, partially offset by higher grades at
Lalor.
Precious metals production in the first quarter
of 2019 was also affected by the stope sequencing of Lalor gold
zone ores and the timing of processing as this material is
currently transported to the Flin Flon mill and blended to achieve
optimal recoveries. Full year production for all metals is expected
to be within the guidance ranges.
Snow Lake Exploration
Update
Hudbay continues to intersect high-grade zinc
mineralization at the newly discovered 1901 Zone, located between
the former producing Chisel North mine and Lalor mine. The
discovery is situated less than 1,000 metres from the existing
active underground ramp at a depth ranging from 520 to 620 metres
and within 15 kilometres of the Stall concentrator in Snow Lake,
Manitoba (please refer to Figure 1).
The mineralization was first discovered in drill
hole CH1901 completed in February 2019 and is interpreted as a
volcanogenic massive sulphide (“VMS”) deposit fed by a system of
discrete copper-gold rich feeder zones intersected from drilling
completed in 2011 and 2012 by Hudbay (please refer to Figure 2).
Hudbay has now completed ten drill holes in the area with five
holes intersecting significant thicknesses of high-grade zinc with
locally high-grade gold and silver content. The mineralization
occurs along the hanging wall contact of the stratigraphic horizon
hosting the Chisel North deposit (please refer to Figure 3 and
Figure 4). The Chisel North deposit was mined from 2000 to 2012 and
produced a total of 3.3 million tonnes at 9.0% zinc.
Hudbay continues the drill program from surface
to both define the lateral extent of this new discovery and to
establish the spatial continuity of the high-grade lenses located
within the mineralized zone. Based on drilling success, an
underground exploration platform may be developed later this year
from the Chisel-Lalor ramp in order to access and further define
the deposit, including a 1,200 metre drift and a 600 metre
ventilation raise. If this zone is confirmed to be economic, the
exploration infrastructure could allow a quick ramp up to
production.
As announced on February 26, 2019, the initial
discovery hole CH1901 assayed 5.21% Zn, 0.33% Cu, 1.37g/t Au and
15.7g/t Ag over 35.6 metres from 540.7 to 576.3 metres. Since the
discovery announcement, the company received assays on drill hole
CH1902, also completed in February 2019, which intersected 6 metres
of massive sulfide with assays confirming 12.68% Zn, 0.18% Cu,
0.79g/t Au and 89.9g/t Ag from 601.7 to 607.6 metres. This second
drill hole intersection is located approximately 100 metres from
the CH1901 intersection in the general interpreted up-dip plane of
the mineralization but in a lower position (please refer to Figure
3). Drill holes CH1903 and CH1904, completed in March 2019, have
confirmed that the zone extends along strike to the northwest with
significant intersections of 31.2 metres assaying 6.17% Zn, 0.11%
Cu, 0.38g/t Au and 19.1g/t Ag from 524.7 to 555.9 metres in CH1903,
and 7.2 metres assaying 8.84% Zn, 0.45% Cu, 1.16g/t Au and 50.4g/t
Ag from 585.0 to 592.2 metres in CH1904 (please see Figure 4).
Mineralization was also intersected over nine metres in hole
CH1907, completed in April 2019, from 569 to 578 metres and assays
are pending. This intersection in CH1907 is located approximately
70 metres southeast of the intersection in hole CH1901. Overall,
the zinc-rich mineralization is currently interpreted as a shallow
dipping zone extending approximately 250 metres along strike and
350 metres down dip.
Hole ID |
From |
To |
Intercept |
Estimated true width1 |
Zn2 |
Cu2 |
Au2 |
Ag2 |
(m) |
(m) |
(m) |
(m) |
(%) |
(%) |
(g/t) |
(g/t) |
CH03053 |
736.5 |
743.7 |
7.2 |
7.0 |
0.03 |
0.40 |
0.04 |
1.76 |
CH07013 |
728.5 |
729.5 |
1.0 |
1.0 |
0.56 |
9.93 |
13.44 |
80.57 |
CH07023 |
764.5 |
767.0 |
2.5 |
2.4 |
0.02 |
1.69 |
3.22 |
5.02 |
CH07033 |
744.0 |
746.1 |
2.1 |
2.0 |
0.01 |
0.06 |
3.40 |
3.38 |
CH11013 |
736.0 |
742.4 |
6.4 |
6.0 |
0.18 |
4.80 |
0.92 |
19.86 |
CH1101W013 |
738.0 |
738.6 |
0.6 |
0.6 |
0.04 |
0.97 |
1.54 |
6.17 |
CH12013 |
657.0 |
661.0 |
4.0 |
3.8 |
0.04 |
1.22 |
1.47 |
7.63 |
CH12033 |
693.5 |
695.0 |
1.5 |
1.5 |
0.06 |
5.08 |
6.10 |
21.76 |
CH18013 |
761.9 |
762.6 |
0.7 |
0.6 |
0.24 |
1.86 |
1.84 |
14.54 |
CH19014 |
540.7 |
576.3 |
35.6 |
35.3 |
5.21 |
0.33 |
1.37 |
15.65 |
CH19024 |
601.6 |
607.5 |
5.9 |
5.5 |
12.68 |
0.18 |
0.79 |
89.89 |
CH19034 |
524.7 |
555.9 |
31.2 |
30.8 |
5.75 |
0.11 |
0.39 |
19.42 |
CH19044 |
585.0 |
592.2 |
7.2 |
7.2 |
8.84 |
0.45 |
1.16 |
50.47 |
CH1907 |
569.0 |
578.0 |
9.0 |
8.6 |
assays pending |
1 True widths are estimated based on drill angle
and intercept geometry of mineralization.2 All gold, silver, copper
and zinc values are uncut.3 No density data so assay results are
length weighted.4 Assay results are density and length
weighted.
Hole ID |
From (m) |
To (m) |
Azimuth at Intercept |
Dip at Intercept |
Easting |
Northing |
Elevation |
Easting |
Northing |
Elevation |
CH0305 |
427622 |
6079055 |
-419 |
427621 |
6079054 |
-426 |
229 |
-76 |
CH0701 |
427540 |
6079130 |
-403 |
427535 |
6079122 |
-443 |
214 |
-77 |
CH0702 |
427451 |
6079221 |
-444 |
427451 |
6079220 |
-447 |
227 |
-76 |
CH0703 |
427467 |
6079110 |
-400 |
427460 |
6079102 |
-431 |
220 |
-70 |
CH1101 |
427467 |
6078914 |
-375 |
427469 |
6078900 |
-415 |
170 |
-70 |
CH1101W01 |
427466 |
6078942 |
-414 |
427466 |
6078942 |
-415 |
184 |
-81 |
CH1201 |
427267 |
6078924 |
-297 |
427257 |
6078912 |
-342 |
270 |
-70 |
CH1203 |
427200 |
6079087 |
-366 |
427200 |
6079087 |
-367 |
254 |
-72 |
CH1801 |
427766 |
6079097 |
-468 |
427766 |
6079097 |
-469 |
249 |
-78 |
CH1901 |
427237 |
6078710 |
-239 |
427233 |
6078707 |
-274 |
229 |
-82 |
CH1902 |
427126 |
6078616 |
-266 |
427123 |
6078615 |
-276 |
241 |
-69 |
CH1903 |
427150 |
6078843 |
-222 |
427147 |
6078839 |
-253 |
218 |
-82 |
CH1904 |
427104 |
6078710 |
-282 |
427103 |
6078709 |
-289 |
241 |
-82 |
CH1907 |
427252 |
6078640 |
-259 |
427251 |
6078639 |
-264 |
229 |
-74 |
During the first quarter of 2019, Hudbay
reported mineral resource estimates for other 100%-owned deposits
in the Snow Lake area, including the WIM, PEN II and New Britannia
mine properties. For additional information, please refer to the
National Instrument (“NI”) 43-101 technical report filed by Hudbay
on SEDAR on March 28, 2019. Drilling activities for metallurgical
testing, geotechnical investigations and engineering studies are
underway at all three of these Snow Lake deposits with the
expectation to upgrade the mineral resources estimates to mineral
reserves with the 2019 annual year-end reserve and resource
update.
Hudbay continues to advance exploration
activities at Lalor where drilling has confirmed the extension of
known high-grade lenses. Lalor in-mine exploration drilling will
continue throughout the year and is expected to be incorporated in
the annual mineral reserve and resource estimate for the year ended
2019.
First Quarter 2019 Financial
Results
Hudbay plans to issue a news release containing
the first quarter 2019 results on Monday, May 6, 2019. Senior
management will host a conference call on Tuesday, May 7, 2019 at
8:00 a.m. ET to discuss the company’s first quarter 2019
results.
First Quarter 2019 Results Conference Call and
Webcast
Date: |
Tuesday, May 7, 2019 |
Time: |
8:00 a.m. ET |
Webcast: |
www.hudbay.com |
Dial in: |
647-794-1827 or 1-800-347-6311 |
An archived audio webcast of the call also will
be available on Hudbay’s website.
Quality Assurance and Quality
Control
Exploration core drilling was NQ size. The core
was logged and mineralized intersections were marked for sampling
and assaying by geologists and geotechnicians employed by Hudbay.
The marked intersections or intervals were sawn in half by a
diamond saw and one half of the core was placed in plastic bags and
tagged with unique sample numbers, while the second half was
returned to the core box and stored. Each bagged core sample was
transported to ACME Bureau Veritas assay laboratory in Vancouver,
British Columbia where it was dried, crushed and pulverized and a
250-gram sample was prepared for assaying. From each 250-gram
sample 0.25 grams was removed and leached in aqua regia and
analyzed by ICP-AES for Ag, Cu, Zn, As, Pb, Ni and Fe. Also, from
the 250-gram sample, 30 grams was removed for gold determination by
fire assaying with an Atomic Absorption or gravimetric finish.
Assaying integrity is monitored internally with
a quality control program, which includes the use of assay sample
standards, blanks, duplicates and repeats and externally through
national and international programs. In addition, within each group
of 20 core samples, one core sample has a second 250-gram split
collected that will be check assayed at SGS Analytical Laboratories
Ltd., an independent company in Vancouver, British Columbia. This
news release provides core lengths and estimates of vertical
thickness only. True widths are not provided. Where metal assays
are provided for intersections, they are either a single assay of a
sample of the entire intersection length or a composite of assays
calculated from interval weighted assays over the intersection
length.
Qualified Person
The technical and scientific information
contained in this news release has been approved by Olivier
Tavchandjian, P. Geo, Hudbay’s Vice President, Exploration and
Geology. Mr. Tavchandjian is a qualified person pursuant to NI
43-101.
Forward-Looking Information
This news release contains forward-looking
information within the meaning of applicable Canadian and United
States securities legislation. All information contained in this
news release, other than statements of current and historical fact,
is forward-looking information. Often, but not always,
forward-looking information can be identified by the use of words
such as “plans”, “expects”, “budget”, “guidance”, “scheduled”,
“estimates”, “forecasts”, “strategy”, “target”, “intends”,
“objective”, “goal”, “understands”, “anticipates” and “believes”
(and variations of these or similar words) and statements that
certain actions, events or results “may”, “could”, “would”,
“should”, “might” “occur” or “be achieved” or “will be taken” (and
variations of these or similar expressions). All of the
forward-looking information in this news release is qualified by
this cautionary note.
Forward-looking information includes, but is not
limited to, production, cost and capital and exploration
expenditure guidance, anticipated production at the company’s
Manitoba mines and processing facilities, expectations regarding
the Snow Lake gold strategy, including the refurbishment of the New
Britannia mill, the low costs of the operation and the possibility
of optimizing the value of the company's gold resources at Lalor
and elsewhere in Manitoba, the possibility of converting inferred
mineral resource estimates to higher confidence categories and
discovering additional mineralized zones at Lalor, the potential
and the company’s anticipated plans for advancing its mining
properties in the Snow Lake region anticipated mine plans,
anticipated metals prices and the anticipated sensitivity of the
company’s financial performance to metals prices, events that may
affect its operations and development projects, anticipated cash
flows from operations and related liquidity requirements, the
anticipated effect of external factors on revenue, such as
commodity prices, estimation of mineral reserves and resources,
mine life projections, reclamation costs, economic outlook,
government regulation of mining operations, and business and
acquisition strategies. Forward-looking information is not, and
cannot be, a guarantee of future results or events. Forward-looking
information is based on, among other things, opinions, assumptions,
estimates and analyses that, while considered reasonable by the
company at the date the forward-looking information is provided,
inherently are subject to significant risks, uncertainties,
contingencies and other factors that may cause actual results and
events to be materially different from those expressed or implied
by the forward-looking information.
The material factors or assumptions that Hudbay
identified and were applied by the company in drawing conclusions
or making forecasts or projections set out in the forward-looking
information include, but are not limited to:
- the schedule for the refurbishment of the New Britannia mill
and for carrying out additional technical studies and exploration
work;
- the success of the company’s Snow Lake gold strategy;
- the success of mining, processing, exploration and development
activities in Manitoba and Hudbay’s ability to grow the business in
Snow Lake;
- the scheduled maintenance and availability of the processing
facilities;
- the accuracy of geological, mining and metallurgical
estimates;
- anticipated metals prices and the costs of production;
- the supply and demand for metals the company produces;
- the supply and availability of all forms of energy and fuels at
reasonable prices;
- no significant unanticipated operational or technical
difficulties;
- the execution of Hudbay’s business and growth strategies,
including the success of its strategic investments and
initiatives;
- the availability of additional financing, if needed;
- the ability to complete project targets on time and on budget
and other events that may affect the company’s ability to develop
its projects;
- the timing and receipt of various regulatory approvals;
- the availability of personnel for the exploration, development
and operational projects and ongoing employee relations;
- maintaining good relations with the communities in which the
company operates, including First Nations communities surrounding
the Lalor mine;
- no significant unanticipated challenges with stakeholders at
the company’s various projects;
- no significant unanticipated events or changes relating to
regulatory, environmental, health and safety matters;
- no contests over title to the company’s properties, including
as a result of rights or claimed rights of aboriginal peoples;
and
- no significant unanticipated litigation and no significant and
continuing adverse changes in general economic conditions or
conditions in the financial markets (including commodity prices and
foreign exchange rates).
The risks, uncertainties, contingencies and
other factors that may cause actual results to differ materially
from those expressed or implied by the forward-looking information
may include, but are not limited to, risks generally associated
with the mining industry, such as economic factors (including
future commodity prices, currency fluctuations, energy prices and
general cost escalation), uncertainties related to the development
and operation of the company’s projects (including risks related
legal challenges, risks related to the new Lalor mine plan and the
schedule for the refurbishment of the New Britannia mill and the
ability to convert inferred mineral resource estimates to higher
confidence categories), risks related to the maturing nature of the
777 mine and its impact on the related Flin Flon metallurgical
complex, dependence on key personnel and employee and union
relations, risks in respect of aboriginal and community relations,
rights and title claims, operational risks and hazards, including
unanticipated environmental, industrial and geological events and
developments and the inability to insure against all risks, failure
of plant, equipment, processes, transportation and other
infrastructure to operate as anticipated, compliance with
government and environmental regulations, including permitting
requirements and anti-bribery legislation, depletion of the
company’s reserves, volatile financial markets that may affect the
company’s ability to obtain additional financing on acceptable
terms, the failure to obtain required approvals or clearances from
government authorities on a timely basis, uncertainties related to
the geology, continuity, grade and estimates of mineral reserves
and resources, and the potential for variations in grade and
recovery rates, uncertain costs of reclamation activities, the
company’s ability to comply with its pension and other
post-retirement obligations, the company’s ability to abide by the
covenants in its debt instruments and other material contracts, tax
refunds, hedging transactions, as well as the risks discussed under
the heading “Risk Factors” in Hudbay’s most recent Annual
Information Form.
Should one or more risk, uncertainty,
contingency or other factor materialize or should any factor or
assumption prove incorrect, actual results could vary materially
from those expressed or implied in the forward-looking information.
Accordingly, you should not place undue reliance on forward-looking
information. Hudbay does not assume any obligation to update or
revise any forward-looking information after the date of this news
release or to explain any material difference between subsequent
actual events and any forward-looking information, except as
required by applicable law.
Note to United States Investors
This news release has been prepared in
accordance with the requirements of the securities laws in effect
in Canada, which may differ materially from the requirements of
United States securities laws applicable to U.S. issuers.
About Hudbay
Hudbay (TSX, NYSE: HBM) is an integrated mining
company primarily producing copper concentrate (containing copper,
gold and silver), molybdenum concentrate and zinc metal. With
assets in North and South America, the company is focused on the
discovery, production and marketing of base and precious metals.
Directly and through its subsidiaries, Hudbay owns three
polymetallic mines, four ore concentrators and a zinc production
facility in northern Manitoba and Saskatchewan (Canada) and Cusco
(Peru), and copper projects in Arizona and Nevada (United States).
The company’s growth strategy is focused on the exploration and
development of properties it already controls, as well as other
mineral assets it may acquire that fit its strategic criteria.
Hudbay’s vision is to be a responsible, top-tier operator of
long-life, low-cost mines in the Americas. Hudbay’s mission is to
create sustainable value through the acquisition, development and
operation of high-quality, long-life deposits with exploration
potential in jurisdictions that support responsible mining, and to
see the regions and communities in which the company operates
benefit from its presence. The company is governed by the Canada
Business Corporations Act and its shares are listed under the
symbol "HBM" on the Toronto Stock Exchange, New York Stock Exchange
and Bolsa de Valores de Lima. Further information about Hudbay can
be found on www.hudbay.com.
For further information, please contact:
Candace BrûléDirector, Investor Relations
(416) 814-4387 candace.brule@hudbay.com
Figures accompanying this announcement are available
at:
http://www.globenewswire.com/NewsRoom/AttachmentNg/b278c940-1c58-4a69-930b-356f832038c5
http://www.globenewswire.com/NewsRoom/AttachmentNg/b8f22618-f1bf-4ff3-b94a-567dbba8331a
http://www.globenewswire.com/NewsRoom/AttachmentNg/fc4f7385-5bb8-42da-ac4d-7354882f7f7b
http://www.globenewswire.com/NewsRoom/AttachmentNg/79bc177c-5c69-4212-a940-5c11ae986fc5
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