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Hudbay resumed full production at its 777 mine in Manitoba

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Image credit: Hudbay.

(Kitco News) - Hudbay Minerals (TSX:HBM, NYSE:HBM) today announced that full production has resumed at its 777 Mine in Flin Flon, Manitoba, following the skip hoist incident in October. The shaft repair activities were completed well ahead of schedule and the total direct repair costs were under the estimated $5.0 million.

While the shaft was under repair, the company temporarily reassigned equipment and personnel from the 777 mine to the Lalor mine in Snow Lake to partially mitigate lost production. Although fourth quarter production and sales volumes will be impacted, the company continues to expect the Manitoba business unit to achieve its full year production and unit cost guidance for 2020.

“The shaft incident was an unfortunate event, but the team responded quickly and was successful in bringing this important asset back into full production ahead of schedule,” said President and CEO Peter Kukielski. “At the same time, the team used this as an opportunity to temporarily allocate additional resources to Lalor to test the mine’s production potential and we are encouraged as to what this might mean for the future of our Snow Lake operations.”

Hudbay (TSX, NYSE: HBM) is a diversified mining company primarily producing copper concentrate (containing copper, gold and silver) and zinc metal. Directly and through its subsidiaries, Hudbay owns three polymetallic mines, four ore concentrators and a zinc production facility in northern Manitoba and Saskatchewan (Canada) and Cusco (Peru), and copper projects in Arizona and Nevada (United States).

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