Manitoba mines likely to boost Hudbay Minerals' 2014 production

WINNIPEG (Scrap Monster): Canadian mining major, Hudbay Minerals eyes major boost in mining output in year 2014 with commercial production from its Lalor and Reed mines in Manitoba set to commence this year. The company has significantly raised its production guidance for 2014.

Hudbay plans to produce between 41,000 and 55,000 tonnes of copper in 2014. The company had produced 30,000 tonnes of copper in 2013, just short of its 2013 guidance of between 33,000 and 38,000 tonnes.

Meanwhile, the company plans to produce between 101,000 and 123,000 ounces of precious metals in 2014. The production from Reed mine is expected to boost the output significantly. Further, the company also looks forward to initial production from Lalor projects. The company aims a higher global output with Constancia mines in Peru expected to be put into operation during the year. Incidentally, Hudbay’s precious metal output in 2013 was 91,258 ounces.

The company has set its 2014 exploration budget to $20.4 million.

Hudbay is a Canadian integrated mining company with operations, development properties and exploration activities across the Americas principally focused on the discovery, production and marketing of base and precious metals.