Hudbay has released its annual reserve and resource update.  They report copper equivalent proven and probable mineral reserves increased by 7.4 percent while precious metal equivalent proven and probable reserves increased by 8.9 percent from 2013.

President David Garofalo says Hudbay’s reserve growth was largely driven by their efforts to optimize the Constancia mine in Peru.  He says as they look ahead, their exploration program in 2014 will allow them to drill newly discovered geophysical anomalies on their large land position around Constancia and to explore Lalor near Snow Lake from the underground exploration drift for the first time.

Hudbay also reports an expected tailings facility expansion allowed for the conversion of a portion of the mineral resources at Constancia into reserves resulting in a mine life extension to 22 years from 16 years.