Hudbay has released its exploration plans for this year. They report exploration in Manitoba will focus on targets in Flin Flon and Snow Lake. This includes testing down plunge exploration potential of the gold and copper zones at Lalor near Snow Lake from the underground exploration ramp. In accordance with a recently entered into option agreement with Callinan Royalties underground exploration drilling at Callinan’s War Baby claim is also planned with the objective of extending the mine life of Triple Seven in Flin Flon beyond 2020. Exploration programs are also planned at Constancia in Peru and Rosemont in Arizona.
They also report a greater than 270 percent increase in copper production over 2014 levels is expected this year due to planned production at all three new mines at Constancia, Lalor and Reed. Their capital expenditures budget is approximately 425 million this year down approximately 60 percent from last year.