Hudbay Minerals plans to produce 92,000–112,000mt of copper across its mines in Peru and Manitoba this year before increasing it to 109,000-136,000mt in 2022.
The Canadian miner’s copper production is estimated to rise further in 2023 to 116,000–143,000mt, the company indicated in a statement on Wednesday.
Hudbay’s Zinc production this year is forecast at 96,000–107,000mt. In 2022, zinc output is expected to fall to 60,000–70,000mt and decline further in 2023 to 40,000–47,000mt.
Over the next eight years, the company’s Constancia Mine in Peru expects its annual copper production to increase by 40pc to 102,000mt. As of January this year, the mine’s total inferred copper reserves and resources averaged close to 56.7mn mt of copper at 0.27pc copper grade along with other metals like gold and silver.
Hudbay expects copper production at its Snow Lake mine in Manitoba to rise by 35pc to 12,000mt between 2022 and 2027. Its zinc output is also projected to increase to 47,000mt in the same period, it stated.