- Copper-focused miner Hudbay Minerals yesterday reported consolidated copper production of 21,715 tonnes in Q2 2023, a decrease of 4% compared to Q1 2023.
The company’s consolidated gold production in the quarter was 48,996 ounces, a 4% increase over the prior quarter, primarily due to slightly higher gold grades and higher gold recoveries in Peru. Cash generated from the company’s operating activities in Q2 2023 decreased to $24.6 million compared to $71.3 million in Q1 2023 primarily due to higher operating costs in Peru associated with the scheduled mill maintenance program and higher planned stripping activities at Pampacancha.
The company said the results were negatively impacted by $6.8 million of transaction costs associated with the acquisition of Copper Mountain and a $1.4 million foreign exchange loss.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: TheHillTimes - 🏆 11. / 79 Read more »