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Message: HudBay Minerals approves capital budget of $391 million
By The Canadian Press | The Canadian Press – 2 hours 10 minutes ago
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By The Canadian Press
TORONTO - HudBay Minerals Inc. says copper production is expected to fall in 2012 as it's affected by the closures of its Trout Lake and Chisel North mines in Manitoba.
The company, which also unveiled its capital budget plans on Monday, said that it remains on track for its 2011 copper production, but expects to see output drop to 35,000 to 40,000 tonnes next year.
The impact is mostly from the winding down of the two mines.
Production of both precious metals and zinc are predicted to hold steady with the levels in 2011, it said.
HudBay Minerals (TSX:HBM.TO - News) approved a capital spending budget of $391 million for 2012.
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