Local News

Snow Lake Area Mine Development is Nearing Completion

In their second quarter 2014 financial statement Hudbay reports during the quarter they benefited from full production at the Reed Mine near Snow Lake. President David Garofalo also reports at the Lalor project near Snow Lake of the total mine construction budget of 441 million dollars they have invested approximately 404 million and entered into an additional 32 million.  He says they’ve completed the underground mine development as well as the new six thousand tonne per day capacity production shaft and mechanically commissioned it for hoisting as well as personnel transport.  Garofalo also noted the remaining committed funding is largely for the office, change house and surface exhaust fan installation. He also mentioned they expect the remaining surface construction to be completed this year and they’ve substantially completed the refurbishing of the Snow Lake concentrator which is now being commissioned to treat 27 hundred tonnes per day double its previous capacity.

             

Garofalo adds their Constancia copper project in Peru remains on track for first production late this year and commercial production in the second quarter of next year.
 

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