Hudbay Minerals Inc. have announced they are increasing the mineral reserves and resources of its Lalor mine in the Snow Lake region.
Lalor’s annual gold production will double once the New Britannia mill has been refurbished. The refurbishing costs are 95 million dollars.
Reserves for gold are increasing by 65%, copper by 23%, and zinc by 11%. With a sustaining cost of 450 dollars per ounce, Lalor is one of the lowest-costing gold mines in Canada. The current reserve life of 10 years, which started in 2014 could be extended with the successful conversion of additional mineral resources at Lalor.