HudBay sees lower copper output in 2013, Peru mine on track

Wed Jan 9, 2013 9:08am EST
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TORONTO Jan 9 (Reuters) - HudBay Minerals Inc said on Wednesday that copper production will be lower in 2013 following the closure of two of its Canadian mines.

The Toronto-based miner produced 39,587 tonnes of copper concentrate in 2012, near the top end of its forecast of 35,000 to 40,000 tonnes, and expects 2013 copper output of 33,000 to 38,000 tonnes.

HudBay also said its $1.5 billion Constancia copper development in Peru remains on track for first output in late 2014 and commercial production in the second quarter of 2015.

The company will spend some C$901 million ($912.73 million)on construction and development at Constancia in 2013, with its total capital spending budget for the year set at C$1.24 billion.