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Hudbay ceases production at its 777 copper-zinc-gold mine in Manitoba due to depletion of reserves

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(Kitco News) - Hudbay Minerals (TSX: HBM) today announced that mining activities at the company's 777 copper-zinc-gold-silver mine in Flin Flon, Manitoba, have concluded after the reserves were depleted following 18 years of steady production.

The company said that closure activities at the 777 mine have commenced and employees and equipment are transitioning to the company's operations in Snow Lake, Manitoba.

"777 was a state-of-the-art mine that represented the pinnacle of a century of shared success for Hudbay and Flin Flon," stated President and CEO Peter Kukielski. "Though the closure of 777 marks the end of a mining era in Flin Flon, we will continue with exploration activities in the region. We care deeply about the community and creating a bright future for mining in northern Manitoba. Hudbay's transition to Snow Lake will help deliver that future and demonstrate our commitment to being a valued member of our communities."

The 777 deposit was a large and rich orebody and for many years was the flagship mine of Hudbay's Manitoba operations. The mine commenced production in 2004 with an initial ten-year mine life, operated steadily and successfully expanded reserves by an additional eight years, the company said.

However, Hudbay noted that after extensive drilling in and around the mine in recent years, no new deposits were identified and the 777 mine hoisted its last skip of ore late last week, adding that the company's hydrometallurgical zinc facility in Flin Flon will also be closed after more than 25 years of successful operations.

According to the company's statement, the 777 mine and the zinc plant are scheduled to be safely decommissioned by September 2022. The Flin Flon concentrator and tailings impoundment area will be shifted to care and maintenance, which could provide optionality should another mineral discovery occur in the Flin Flon area, Hudbay said.

Importantly, the company added that personnel and equipment are being deployed from 777 to Hudbay's Lalor mine in Snow Lake as part of the Lalor ramp-up strategy.


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