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Hudbay Minerals Provides Annual Reserve and Resource Update
Annual copper production from Constancia is expected to average 110,000i tonnes over the next three years, a 23% increase from 2022 levels. Annual gold producti
About this update from Hudbay Minerals Inc
[{"type":"text","content":" Annual copper production from Constancia is expected to average 110,000i tonnes over the next three years, a 23% increase from 2022 levels. Annual gold production from Snow Lake is expected to average more than 190,000i ounces over the next three years, a 30% increase from 2022 levels. Peru concentrate inventory levels at site have reached normal levels ahead of schedule after full resumption of transportation activities. Mining of the higher-grade ore at Pampacancha is now expected in the second quarter of 2023, ahead of schedule. Copper mineral resource estimates increase year-over-year with the incorporation of the positive Copper World PEA and initial mineral resource estimate at Llaguen. Exploration activities in Peru are focused on ground geophysics and drill permitting for highly prospective satellite properties while evaluating the potential for reserve expansion at Constancia and Pampacancha through future mining phases. Exploration activities in Snow Lake are prioritizing step-out drilling for new discoveries to support future growth with preliminary results indicating the alteration zone hosting the mineralized system at Lalor continues down dip for two kilometres. De-risking activities at Copper World are focused on completing a pre-feasibility study in mid-2023 and obtaining state level permits. Recent geophysical surveys, which identify the potential for high-grade skarn and large porphyry targets on private land claims near Mason, will be used to finalize a drill program to test these targets in late 2023. TORONTO, March 30, 2023 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE: HBM) today released its annual mineral reserve and resource update and issued new three-year production guidance. All amounts are in U.S. dollars, unless otherwise noted. “Our greenfield exploration efforts successfully increased our copper mineral resources last year with the release of our Copper World PEA and the initial resource estimate at Llaguen,” said Peter Kukielski, Hudbay’s President and Chief Executive Officer. “Our 2023 exploration program is focused on high-potential opportunities to expand mineralization near our operations in Peru and Manitoba to position us for additional long-term reserves growth. We already have long lives at our existing operations, and we expect to add to our robust prod...