- Hudbay (HBM) has achieved its first gold production at the New Britannia Mill in Snow Lake, Manitoba
- First gold production occurred on August 11, 2021, in line with recent guidance and ahead of the original schedule for production by end of the year
- The company expects annual gold production from Lalor and the Snow Lake operations to increase to over 180,000 ounces within six years
- Hudbay is a diversified mining company primarily producing copper concentrate and zinc metal
- Hudbay (HBM) is down by 2.13 per cent and is currently trading at $8.26 per share
Hudbay (HBM) has achieved its first gold production at the New Britannia Mill in Snow Lake, Manitoba.
The company completed refurbishment activities at the gold mill in June 2021 followed by commissioning and startup activities in July.
The first gold production occurred on August 11, 2021, in line with recent guidance and ahead of the original schedule for production by end of the year.
The company is also finalizing the construction of a new copper flotation facility at New Britannia, which remains on track for commissioning and ramp-up in Q4 2021.
Hudbay expects annual gold production from Lalor and the Snow Lake operations to increase to over 180,000 ounces during the first six years of New Britannia’s operation. This is at an average cash cost and sustaining cash cost, net of by-product credits, of $412 and $788 per ounce of gold, respectively.
Peter Kukielski, Hudbay’s President and CEO, commented,
“We are proud of the New Britannia project and operating teams for completing construction activities ahead of the original timelines and achieving a successful ramp up to first gold pour. This is a major growth milestone for Hudbay and our Manitoba business as it marks the beginning of the transition of our Lalor mine to a primary gold operation.”
Hudbay is a diversified mining company primarily producing copper concentrate and zinc metal.
Hudbay (HBM) is down by 2.13 per cent and is currently trading at $8.26 per share as of 9:57 am ET.
