everyone, and morning, very Good us. Candace. you, for Thank thanks much joining
to environment our continues present operating to I Before for I situation begin units. a today's recognize that COVID wanted the presentation, business challenging
on and returns families safely to certain by vaccines encouraged ensure our strict shift. end COVID their the protocols of are procedures in While our regions, to the every focused we remain to rollout of adhering at workforce home we recent
transmission operations, our in cases to workplace ensure contact have protocols encountered and our and limited. recently have was tracing efforts safety helped We
to by has initiatives, We progress have a followed to at allowed I growth of efforts results, touch many growth pipeline, we are efficiently. quarter’s In this our on which presentation our the year, made of overview today, catalysts the over continue past near-term our recap the operate Hudbay. strong leading proud safely team’s minds will organic and copper past the of an and on our
increased per non-cash quarter share, First copper in to before the consolidated was XX% throughput higher per cash EBITDA change recoveries due copper Consolidated first decrease at by but quarter in result Operating higher by factors quarter due copper working one-off other pound and the realized to of share higher cash the flow X% achieving the in cash $XX cost offset among due unchanged Hudbay copper primarily and Incorporating from in a sustaining a cash to due items. previous produced, was to lower lower the volumes. higher Flin to credits. a operating XXXX. a production costs, quarter offset to XXX, the adjusting This fourth was administrative, the was increased from production quarter million at copper This gold per after quarter million, $X.XX fourth which by sales was was lower XX%, prices all-in of and recoveries Adjusted the and during at cost Flin fourth sustaining record tons, [XX.XXXX] than slight compared mark-to-market $XXX for copper to and first of was selling, higher lower new capital net relatively semi-annual Flon grades Flon capital, higher produced Constancia zinc grades per higher zinc in were an regional partially shutdown, consolidated gold increase by-product production, as lower the and of prices, costs, instruments, cash throughput. from sustaining quarter, same Consolidated mill capital. the higher $X.XX cash costs, quarter, impacting the the higher $X.XX, net financial royalties, pound from mill at on and quarter and a gold higher volumes. scheduled realized quarter period, concentrator, as charges, $X.XX loss Consolidated maintenance sales the XXX by at by respectively, grades at adjusted compared increase prior financing Constancia. lower production fourth first grades due the loss the due first offset quarter to offset mill. fourth was for gold was
Peru quarter the million, $XX to of but not in the a was payment at copper concentrate, the sales first XX,XXX impacted delay for recognition of shipment valued quarter, shipment did the due in by timing the First a meet early received criteria April. delayed which tonne into
Had in cost we rail and would is during production First strong copper levels copper operating approximately realized the first as recognized of revenue. million. sales $XX have the quarter. concentrate both parcels in have copper X,XXX at been normalized delay parcels normal impacted the in quarter, approximately a since copper valued resulted $XX incremental This second of revenue concentrate sold in after have These quarter million approximately tonnes Manitoba being of were of which quarter. inventory levels, concentrate accessing build-up of a additional excess by
during by results cash costs of our previous that quarter, quarter in the priced with tonnes First with a fourth during the the Ore higher realized quarter. quarter the levels, ounces of than quarter, and XXX exited Slide end than quarter, results mill. the copper as the our sent lower tons level into shutdown to the quarter first a the consistent maintenance increased of recoveries than We mine of hedging with copper costs from with ore are Recoveries and last COVID-XX was in the Peru of also recent equivalents the copper lower the for Constancia plant previous in fewer mainly were of provisionally first million Ore copper line sales. remained maintenance price than operating are negatively while year, $XXX in Manitoba, last and to [XX.XXXX] levels result our but in find April scheduled banks and The the initiatives was capital lower in the while impacted refinancing of end XXXX contaminants tonne plan, delayed production Unit mines Mills XXX,XXX with to amount the into growth costs. in during to has full-year ore COVID-related payments bond A grades mill mining to enhanced of mill and On costs we our related the ore operating quarter. quarter. [X.XXXX] deeper announce along quarter. managing line quarter and to in $X.XX timelines higher throughput guidance hardness to of the fourth the the and approximately and production gold lower higher compared with optimized operation been silver, were tonnes reaffirmed, pleased cost complete quarter commenced and the unit lower first grades we Peru updated lower were relatively the due were previous the first quarter of issued fees interest the gold ounces planned maintenance than a milled protocols. silver produced shutdown. and per as lower as the mine consistent pit. during from and Pampacancha access grade was you Production plan. copper as Constancia of from at fourth incorporated will X, of recently molybdenum. milled mills summary primarily guidance due the were of program throughput quarter the we primarily because quarter mill was fourth gold in of operating investments quarter
quarter year, for even guidance due for in last site higher the to land same user projected quarter, balance However, affecting sustaining costs Peru’s first the development gained offset the factors quarter. Sustaining to the the fourth Pampacancha the full-year partially and $X.XX, of for the cash cash by pit prior capital production. remaining due cost In to range. quarter, cash cost elevated agreement compared during first decline spending, costs expect to costs our $X.XX and be cost finalized quarter with line compared year, we milling cash improved the activities. copper lower to we to to early the XXXX primarily in unit for access to COVID operating XXXX, in to April was with lower higher the the full complete
time photos for a and activities which and First shows the Pampacancha in the the is mine of assumed significant start plan. was real positive X of Pampacancha both of what we at milestone pit, our end in consistent production company April, the Slide for the guidance community achieved recently published Chilloroya. from annual mining of with
XX% Turning talk resulted grade of the XXXX. higher March It from Slide per gold reserves the the North copper, contained and in from and of higher increase gold increase like grade which and in plan, from X, update to released tonnes contained updated the tonne copper XX. to Constancia grams Pampacancha of contributed gold pit deposit reserves. XX XXXX, as I'd extension, on mind of and in higher in plan. prior the million reserves copper our we an over approximately X.XXX to a an about Constancia year’s the reflects production grade to an which X.XX% increase at XX% mine incorporates to This This into extends XXXX grades the profile
next XXXX years, and at next copper sustaining its per of ounces average of approximately to cash pound production from tonnes cost respectively, Pampacancha Constancia $X.XX North, cost incorporation maintains increase X cash is gold profile XXX%, with years. copper the average over the of X and XX,XXX and an of XX% over the With of of XXX,XXX levels. expected low-cost $X.XX Constancia annual and Constancia
quarter. Production ounces quarter, the higher the Copper recoveries. of head in shaft was metals Moving first due at due repairs during than Ore levels at X,XXX were gold stopes XXX grade the end quarter. higher mined Lalor after of the mine in quarter and gold silver. New fourth zinc, completed XXX at copper in per consistent Manitoba the in the to previous gold tonnes Lalor day the construction targeted as Manitoba. rate [X.XXXX] on quarter. mill higher operations tonnes full gold, than part mine ounces mine throughput grades upon mine in The all the XXX fourth life. the the to as Britannia XXX,XXX Production quarter the its XX,XXX order out well third were of and the copper, to the of to the underground of of of primary nears results of for increased were production next us and the continue quarter production mined activities included during fourth lower and tonnes quarter slide Development XX,XXX higher during were start-up position remnant the grades higher achieved than for
end of ore the contributed up this quarter We grow have from XX,XXX continue ore the of activity quarter. the operating tonnes elevated expected with at approximately The the gold tonnes to mining costs to fourth XX,XXX during incremental the first to during second unit stockpile stockpiled, has gold quarter. associated is growing and
absenteeism. is to due gold, to mill. concentrator of which see the as despite ahead first In related $X.XX, production achieved quarter cost lower anticipate well-advanced only to fourth mill the The to the compared processed in prior third of lower period the with production. Lalor early less the mine schedule of the approximately gold during the were was order is a processed of therefore in grow precaution with to at planned lenses higher start-up due the of mill. previous track quarter the Flin mill, New higher offset the and The result. and by preparation the as Lalor XXX of previous a within to Britannia the guidance higher primarily quarter, cash for Stall quarter. copper, and XXX, grow Flin impact continued than previous mining was of silver non-effected. the negative due costs suspended costs. XXXX, gold the performance to to development continue completed new not the mining higher We were X%, quarter quarter credits, the production on original primarily ore Britannia. second the of copper was than result New by-product well as are to flotation first the X% completion G&A $X.XX, The than in the spare ore development mid-XXXX range. stockpiling during Flon facility four in than higher the cash expected do same ramp-up quarter of able cost due Lalor was refurbishment as ahead stockpile of COVID remained compared for continues copper of the as were the Lalor’s Unit quarter, mentioned. in lower costs a as is due days with the to production was affecting of strong not expected gold Britannia at from full Stall the Flin project levels for and fourth concentrator stockpile Sustaining capacity but XX% as and Operational New operating of fourth but Manitoba’s April. ore as Lalor at quarter of a capitalized for April, by nearing ore of ore The higher Ore both activities gold-rich the periods utilize increase activity production gold cash We increased plant readiness as we to higher due diverted to was to commissioning any high I XXXX. this the project material as head Lalor and record was end gold the progressing underground Flon during being new at Britannia Flon Commissioning at and to prior quarter track increased annual grades. to Recoveries quarter early factors
of we continue On manage. significant project part as XX, pressures continue which phase We the strategy. of to on capital New COVID-related gold see Lake some also to cost Snow announced the March third will Britannia, estimates we advancements at its many
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beyond. plan. a strategy for the graphs our XX%, fully and significantly consolidated incorporating mine previous these production. in the copper the to demonstrate mine These production two this our has As silver initiatives, more operations. our that been XX%, and and gold, the to in and XX copper in year gold increasing thought Slide of and the XXXX, new result these compared gold by updated mill well Pampacancha XXXX of Through increase growth copper, of reaping benefits profile and near expected and plans Britannia investments our production respectively, flagship from XXXX decisions refurbishment, out we begin expect successful to XX%, term to are shows
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