Business
Hudbay Minerals Reports Production Interruption at its 777 Mine
TORONTO, Oct. 11, 2020 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE: HBM) today reports that production at its 777 Mine in Fl
About this update from Hudbay Minerals Inc
[{"type":"text","content":" TORONTO, Oct. 11, 2020 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE: HBM) today reports that production at its 777 Mine in Flin Flon, Manitoba, has been temporarily suspended due to an incident that occurred on October 9th during routine maintenance of the hoist rope and skip, which is the bucket used to hoist ore from underground. The hoist rope detached from the skip, causing the skip to fall to the bottom of the shaft. There were no injuries and all underground personnel were safely evacuated from the mine using the secondary ramp access. An inspection of the damage to the shaft is underway and it is expected to take several weeks to fully assess the damage and the remedial work needed. In the meantime, the company has notified its insurers and has implemented its business continuity plans to mitigate potential impacts to production from the Manitoba business unit. This includes reassigning equipment and personnel to the Lalor mine in Snow Lake and continuing to operate the zinc plant by processing available zinc concentrate inventory and optimizing the production of zinc concentrate from the Snow Lake operations. “This was an unfortunate event, but we are thankful there were no injuries and that our safety protocols were closely followed. We have an exceptional team in Manitoba who have proven their ability to overcome challenging situations time and time again, and I am confident they will remedy this challenging situation safely and efficiently,” said Peter Kukielski, Hudbay’s President and Chief Executive Officer. The company will provide a further update once it has a better understanding of the remedial work required to resume production at 777. 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, expected timelines to complete the inspections at the 777 mine and the company’s ability to mitigate impacts on production from its Manitoba operations and remedy the damage that occurred. 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 b...