In their first quarter 2020 report Hudbay noted a net loss of 76.1 million dollars compared to a loss of 1.5 million in the first quarter of last year. This reflects lower realized metal prices, lower Constancia grades in Peru in line with the mine plan and the high cost of sales in Peru as a result of the temporary suspension of Constancia due to COVID-19. President Peter Kukielski explained operations continued in Manitoba without any impact to production and the ability to ship concentrate and zinc metal noting Lalor achieved record mine production with an eight percent increase over the fourth quarter averaging 4,632 tonnes per day in the first quarter and exceeding targeted levels. Similarly he added the Stall Mill achieved superb results in this quarter with a 19 percent increase from the last quarter averaging over four thousand tonnes per day which is yet another record for Stall.
Kukielski praised the Manitoba team on the continued strong operating performance, production and cost control in an environment of increased constraints from COVID-19 related protocols.