Strong Production Results; Key Projects Advancing
TORONTO, ONTARIO -- (Marketwire) -- 05/16/11 -- HudBay Minerals Inc. (TSX: HBM)(NYSE: HBM) -
Highlights
-- Production of all key metals was higher in the first quarter of 2011
compared to the same period last year and remains on track to meet 2011
guidance, with copper production up 23% to 14,386 tonnes, zinc
production up 27% to 19,205 tonnes and precious metals production up 31%
to 30,006 gold-equivalent ounces(1)
-- Acquisition of Norsemont and its 100% owned Constancia copper project
completed in the first quarter of 2011; project optimization and initial
stages of construction preparation commenced
-- Significant construction activities continue at Lalor as project remains
on budget and on schedule for first production in the second quarter of
2012; optimized feasibility study due in the third quarter of 2011
-- Additional copper-gold mineralization intersected in three separate
horizons in copper-gold zone at Lalor
-- Drill intersections in Pampacancha deposit, three kilometers southeast
of Constancia, confirm continuity of mineralization, with localized high
grade intervals
-- New high-grade copper mineralized zone discovered in exploration
drilling at option property 1.8 kilometers from the Reed copper project
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