Hudbay Announces Resumption of Full Production at its 777 Mine

Hud b ay Minerals Inc. ("Hudbay" or the "company") ( TSX, NYSE: HBM) today announced that full production has resumed at its 777 Mine in Flin Flon, Manitoba, following the skip hoist incident in October. The shaft repair activities were completed well ahead of schedule and the total direct repair costs were under the estimated $5.0 million.

While the shaft was under repair, the company temporarily reassigned equipment and personnel from the 777 mine to the Lalor mine in Snow Lake to partially mitigate lost production. Although fourth quarter production and sales volumes will be impacted, the company continues to expect the Manitoba business unit to achieve its full year production and unit cost guidance for 2020.

"The shaft incident was an unfortunate event, but the team responded quickly and was successful in bringing this important asset back into full production ahead of schedule," said Peter Kukielski, Hudbay's President and Chief Executive Officer. "At the same time, the team used this as an opportunity to temporarily allocate additional resources to Lalor to test the mine's production potential and we are encouraged as to what this might mean for the future of our Snow Lake operations."

Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian and United States securities legislation. Forward-looking information includes, but is not limited to, the company's ability to achieve full year production and cost guidance at the Manitoba business unit, the anticipated impacts on fourth quarter production and sales volumes and the future potential of the Snow Lake operations. 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 ability to maintain full production from the 777 mine following the repairs and the ability to achieve full year production and unit cost guidance.

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) and mining operations, 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.

About Hudbay

Hudbay (TSX, NYSE: HBM) is a diversified mining company primarily producing copper concentrate (containing copper, gold and silver) and zinc metal. 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, development, operation and optimization 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 Brûlé
Director, Investor Relations
(416) 814-4387
candace.brule@hudbay.com


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

The Conversation (0)
Los Andes Copper (TSXV:LA)

Los Andes Copper


Keep reading...Show less
Questcorp Mining (CSE:QQQ)

Questcorp Mining

Keep reading...Show less
Forte Minerals (CSE: CUAU)

Forte Minerals Corp. Closes Oversubscribed Private Placement Offering

Forte Minerals Corp. (Forte” or the “Company) (CSE: CUAU) (OTCQB: FOMNF) (Frankfurt: 2OA), a copper-gold exploration company focused on Peru, has successfully closed its oversubscribed non-brokered private placement, raising gross proceeds of C$2,690,000.

A C$2.4 million financing was initially announced on May 23, 2025. It was met with high investor demand, resulting in the issuance of 6,725,000 units at a price of C$0.40 per unit, and within the right of increase reserved by the Company.

Keep reading...Show less
Electric Royalties (TSXV:ELEC)

Electric Royalties Announces CFO Transition

Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company") is pleased to announce the appointment of Robert Scott as Chief Financial Officer. Mr. Scott is replacing Luqman Khan, who has departed the Company to pursue other opportunities.

Mr. Scott, a CPA, CA, and CFA, brings more than 25 years of professional experience in accounting, corporate finance, compliance and banking, and has served on the management teams and boards of a select number of Canadian publicly traded companies. Throughout his career, Mr. Scott has helped raise more than $200 million in equity financing and developed extensive experience in IPOs, reverse takeovers, mergers and acquisitions, and corporate restructuring. He is a founder and President of Corex Management Inc. ("Corex"), which provides professional services to privately held and publicly traded companies. Mr. Scott has significant public company experience, including senior management and board positions with a number of TSX Venture Exchange issuers including Capitan Silver Corp., K2 Gold Corporation, Riverside Resources Inc., Great Bear Resources Ltd. and First Helium Inc.

Keep reading...Show less
CoTec Holdings (TSXV:CTH)

Hypromag Achieves Further Technical Milestones as Piloting Ramps Up in Advance of Commercial Rare Earth Magnet Production in The Uk, Germany and USA

Mkango Resources Ltd. (AIM:MKA)(TSX-V:MKA) ("Mkango") and CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec") are pleased to provide a technical update for HyProMag Limited ("HyProMag") and its ongoing advanced pilot programme for the scale-up and roll out of Hydrogen Processing of Magnet Scrap ("HPMS") technology to produce domestically sourced and short-loop recycled rare earth magnets with a minimal carbon footprint in the UK (2025), Germany (2025) and United States (2027).

The ongoing advanced pilot programme at the University of Birmingham is proceeding in parallel with development of the commercial scale plant at Tyseley Energy Park in Birmingham, UK.

Keep reading...Show less

Latest Press Releases

Related News

×