Hudbay has issued an update on its developmental activities and President David Garofalo says 2014 was a year of significant growth milestones for Hudbay. He said earlier this year they achieved commercial production at the Reed Mine and now enjoy the benefits of full production. He adds this quarter they achieved another milestone by reaching commercial production at the Lalor Mine on time and on budget and now they’re enjoying the benefits of the new production shaft operating in a steady state and the refurbished Snow Lake concentrator which now has the capacity of treating 27 hundred tonnes per day. He notes the next major milestone at Lalor is completing the exploration ramp which they’ve already begun and is progressing well.
Garofalo says their next significant milestone is the Constancia copper project in Peru which is on track for first concentrate production during the fourth quarter of this year and commercial production in the second quarter of next year.