HudBay Minerals Releases 2013 Production Guidance, Spending Forecasts
HudBay Minerals Inc. (HBM.TO) released its production guidance along with its exploration and capital expenditure forecasts for 2013.
Contained copper production in concentrate in 2013 is expected to decrease slightly over 2012 because of the closures of the Trout Lake and Chisel North mines in 2012 following the end of their mine lives. Contained zinc production in concentrate in 2013 is expected to increase over 2012 levels, due to the full year of production expected from the main ventilation shaft at Lalor. Precious metal production is expected to remain essentially unchanged from 2012 levels.
The company has also budgeted exploration expenditures of $40 million, more than half of which is focused on brownfield opportunities near its existing deposits.
HBM went down by 4% to $10.93, with 52-week range of $7.36-$12.47.
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