Local News

Hudbay is Indicating a Start of Growth

Hudbay has released its second quarter 2014 financial results that indicated total revenue of 139.3 million dollars, 8.6 million higher than the same quarter last year primarily as a result of higher copper sales volumes and higher metal prices offset by lower zinc, gold and silver sales volumes.  President David Garofalo says during the second quarter they saw notable increases in their production, earnings and cash flow from the same period last year.  He says these increase are especially significant as they represent the beginning of their expected production, earnings and cash flow increases as they are on the verge of completing the mine building plan they laid out four years ago.

             

Garofalo adds second quarter ore production at their Manitoba business unit was 23 percent higher than the prior years second quarter as a result of higher volumes at Lalor and full quarter production at Reed, both near Snow Lake.
 

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