Ms. Carla Nawrocki reports
HUDBAY HOSTS ANALYST SITE VISIT TO CONSTANCIA MINE IN PERU AND ANNOUNCES SECOND QUARTER 2018 PRODUCTION RESULTS FOR PERU OPERATIONS
Hudbay Minerals Inc. is hosting a site visit by analysts and investors to its Constancia mine in Peru on July 17, 2018, and July 18, 2018. A copy of the site visit presentation, which contains operational and other updates, is available on Hudbay's website.
Hudbay also today released its second quarter 2018 production results for its Peru operations. All amounts are in U.S. dollars, unless otherwise noted.
PERU PRODUCTION PERFORMANCE
Three months ended Six months ended
June 30, June 30, June 30, June 30,
2018 2017 2018 2017
Ore mined (1) tonnes 8,744,200 7,337,531 18,233,969 14,550,731
Copper % 0.47 0.55 0.49 0.55
Gold g/t 0.05 0.04 0.05 0.04
Silver g/t 4.03 3.81 4.11 3.92
Ore milled tonnes 7,726,606 6,931,690 15,577,775 13,249,299
Copper % 0.44 0.53 0.47 0.54
Gold g/t 0.05 0.04 0.05 0.04
Silver g/t 3.92 3.91 4.01 4.08
Copper concentrate tonnes 113,739 118,586 242,286 227,122
Concentrate grade % Cu 23.58 25.13 24.09 25.10
Copper recovery % 79.7 80.6 80.3 80.4
Gold recovery % 44.8 44.8 44.9 44.7
Silver recovery % 61.2 62.6 61.9 62.4
(1) Reported tonnes and grade for ore mined are estimates based on mine plan assumptions and may
not reconcile fully to ore milled.
CONTAINED METAL IN CONCENTRATE PRODUCED
Three months ended Six months ended Annual
June 30, June 30, June 30, June 30, guidance
2018 2017 2018 2017 2018
Copper tonnes 26,817 29,798 58,369 57,009 95,000 to 115,000
Gold oz 5,190 3,802 10,608 7,737
Silver oz 596,571 546,295 1,242,456 1,085,830
Precious metals (1) oz 13,713 11,606 28,357 23,249 (2) 50,000 to 70,000
(1) Precious metals production includes gold and silver production on a gold equivalent basis. Silver is converted to
gold at a ratio of 70:1.
(2) The initial 2018 guidance for Constancia precious metals production was 65,000 to 85,000 ounces.
Peru production review
During the second quarter of 2018, the Peru operations produced 26,817 tonnes of copper, which was approximately 10 per cent lower than production in the second quarter of 2017, as a result of lower copper head grade in accordance with the mine plan, offset in part by higher mill throughput.
Recoveries of copper and silver were slightly lower in the second quarter of 2018, compared with the same period in 2017, while gold recoveries remain unchanged over the same period. Several metallurgical initiatives are being implemented by Hudbay with the intention of increasing copper recoveries as anticipated in the recently filed 2018 technical report for Constancia.
About Hudbay Minerals Inc.
Hudbay is an integrated mining company producing copper concentrate (containing copper, gold and silver) 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. Through its subsidiaries, Hudbay owns four polymetallic mines, four ore concentrators and a zinc production facility in Northern Manitoba and Saskatchewan (Canada) and Cusco (Peru), and a copper project in Arizona (United States).
We seek Safe Harbor.
© 2024 Canjex Publishing Ltd. All rights reserved.