December 19, 2011 / 11:58 AM / 6 years ago

UPDATE 1-HudBay Minerals sees lower copper output in 2012

Dec 19 (Reuters) - Canadian base metal and precious metal miner HudBay Minerals Inc said it expects copper production to fall next year, hurt by the closures of its Trout Lake and Chisel North mines in Manitoba.

The company backed its 2011 copper production outlook of 40,000-55,000 tonnes, but said it expects 2012 output to fall to 35,000-40,000 tonnes.

HudBay Minerals also plans to extend the life of the Trout Lake mine to June 2012 from early 2012 by investing more in it.

The company expects 2012 zinc and precious metal production to remain flat.

It raised its capital budget for the next year to $391 million from $289 million in 2011, and allocated $296 million for growth opportunities.

Earlier this year, HudBay Minerals had said it planned to invest at least $1 billion to develop its Constancia copper project in Peru. (Reporting by Aftab Ahmed in Bangalore; Editing by Joyjeet Das)

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