Hudbay issued their 3rd quarter 2020 operating and financial results last week. They reported a net loss for the quarter of 24 million dollars compared to 31.4 million in the second quarter this year. President and CEO Peter Kukielski stated they continue to be pleased with the team’s ability to maintain strong operating and financial performance while executing on their growth initiatives. He says their Peru operations have been successfully running at full capacity after having been temporarily suspended in the second quarter due to government-imposed COVID-19 restrictions, and they have maintained positive momentum at Pampacancha. He adds their Manitoba operations had the best quarterly cost performance in the last two years demonstrating their focus on continuous improvement initiatives and cost control.
Underground mining activity resumed at Triple Seven in Flin Flon with limited production from the mines ramp access. If it is confirmed there is no further damage beyond what has been identified to date it is expected the shaft should resume full production in December at a repair cost that is not expected to exceed five million dollars.
