UPDATE 1-HudBay Minerals sees 2011 output at this year’s levels

* Sees 2011 gold production at 95,000-120,000 ounces

* Sees ’11 copper production at 40,000-55,000 tonnes

* Sees ’11 zinc output at 70,000-90,000 tonnes

Dec 13 (BestGrowthStock) – Canada’s HudBay Minerals Inc (HBM.TO: )
(HBM.N: ) said it sees 2011 gold, copper and zinc production to
remain around this year’s estimated levels.

HudBay, said it expects to produce 95,000-120,000 gold
equivalent ounces, while copper production is forecast at
40,000-55,000 tonnes. The company said zinc production next
year will range from 70,000-90,000 tonnes.

HudBay said in November it expects to produce 100,000
ounces of gold, around 50,000 tonnes of copper and about 80,000
tonnes of zinc in 2010.

The company set its 2011 exploration budget at $59 million
and capital expenditure budget at $289 million, including about
$163 million at Lalor project in the western Canadian province
of Manitoba.

In August, the company decided to move its Lalor project
into construction after discovering more gold and copper
deposits on the property.

Shares of the Toronto Ontario- based company closed at
C$18.89 on Friday on the Toronto Stock Exchange.
(Reporting by Aftab Ahmed in Bangalore; Editing by Roshni
([email protected]; within U.S. +1 646 223 8780;
outside U.S. +91 80 4135 5800; Reuters Messaging:
[email protected]))

UPDATE 1-HudBay Minerals sees 2011 output at this year’s levels