Hudbay Achieves First Gold Production at its New Britannia Mill
GlobeNewswire - 1 hour ago
Hudbay Minerals Inc. ("Hudbay" or the "company") (TSX, NYSE: HBM) today announced that gold production has commenced at the New Britannia mill in Snow Lake, Manitoba. Refurbishment activities at the gold mill were completed in June 2021, followed by commissioning and startup activities in July. The mill achieved first gold production on August 11, 2021, in line with the timelines assumed in recent company guidance and ahead of the original schedule to produce first gold before the end of 2021.
"We are proud of the New Britannia project and operating teams for completing construction activities ahead of the original timelines and achieving a successful ramp up to first gold pour," said Peter Kukielski, Hudbay's President and Chief Executive Officer. "This is a major growth milestone for Hudbay and our Manitoba business as it marks the beginning of the transition of our Lalor mine to a primary gold operation."
The company is also completing the construction of a new copper flotation facility at New Britannia, which remains on track for commissioning and ramp up in the fourth quarter of 2021. Annual gold production from Lalor and the Snow Lake operations is expected to increase to over 180,000 ounces during the first six full years of New Britannia's operation at an average cash cost and sustaining cash cost, net of by-product credits, of $412 and $788 per ounce of gold, respectively.