The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.
HudBay Minerals Inc. (TSX: BM) (HudBay) is pleased to announce full year 2004 production results for its wholly owned subsidiary, Hudson Bay Mining and Smelting Co., Limited (HBMS), as well as ore reserves as at January 1, 2005. HudBay completed the purchase of HBMS from Anglo American on December 21, 2004. The tabulated production volumes are unaudited and are subject to change once HudBay's audited 2004 financial results are released at the end of March 2005. HudBay's audited results for 2004 will incorporate HBMS results for only the period following HudBay's acquisition of HBMS. HBMS is the principal operating subsidiary of HudBay and contributes all of HudBay's production. Key production statistics are provided for HBMS' mines and metallurgical plants, including metal production attributable to HBMS' mines and to concentrates purchased by HBMS. Mine production volumes increased in 2004 as compared to 2003 at improved ore grades, due in part to the new 777 mine reaching commercial production on January 1, 2004. Production of metal attributable to HBMS owned mines were also substantially increased. Total copper and zinc metal production was slightly reduced in 2004 compared to 2003, reflecting the higher volumes of concentrate treated from HBMS mines and to more planned maintenance days. Gold and silver production was increased related to a high precious metal content from HBMS mined ores and to improved recovery technology in the Flin Flon concentrator. HudBay Minerals Inc. is an integral mining and metal producing company that operates mines and concentrators in northern Manitoba and Saskatchewan and a metal processing complex in Flin Flon. The company also operates a zinc oxide production facility in Brampton, Ontario and the former producing mines of Balmat in New York State and Gays River in Nova Scotia that are being evaluated for re-opening. Mine Production 2003 2004 Trout Lake tonnes 872,700 916,100 Zinc % 4.8 5.3 Copper % 1.2 1.5 Konuto tonnes 321,500 327,200 Zinc % 1.8 2.1 Copper % 3.7 4.1 777 Mine tonnes 709,200 975,900 Zinc % 4.0 4.5 Copper % 2.8 2.9 Chisel N. tonnes 303,200 327,900 Zinc % 11.3 10.0 Copper % 0.2 0.2 Total tonnes 2,206,600 2,547,100 Zinc % 5.0 5.2 Copper % 1.9 2.2 Estimate of HBMS Ore Reserves (as of January 1, 2005) Tonnes Au(g/t) Ag(g/t) Cu(%) Zn(%) Trout Lake Proven 1,584,000 1.2 14.0 1.3 4.6 Probable 1,727,000 1.2 15.1 1.8 4.0 777 Proven 2,963,000 2.4 30.7 2.2 4.5 Probable 13,633,000 2.1 27.6 2.4 4.7 Konuto Lake Proven 184,000 2.3 7.2 4.0 0.9 Probable 34,000 1.9 5.3 4.8 0.9 Chisel North Proven 628,000 0.2 21.0 0.1 9.5 Probable 846,000 0.5 18.9 0.3 8.1 Total Proven 5,360,000 1.8 23.8 1.8 5.0 Total Probable 16,240,000 1.9 25.8 2.3 4.8 Total Reserves 21,600,000 1.9 25.3 2.2 4.8
