Business
Hudbay Minerals Provides Annual Reserve and Resource Update, Three-Year Production Outlook and Positive Snow Lake Exploration Results
TORONTO, March 27, 2025 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE: HBM) today released its annual mineral reserve and reso
About this update from Hudbay Minerals Inc
[{"type":"text","content":" TORONTO, March 27, 2025 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE: HBM) today released its annual mineral reserve and resource update and issued new three-year production guidance. All amounts are in U.S. dollars, unless otherwise noted. Affirmed 2025 production guidance and issued new 2026 and 2027 production guidance, demonstrating strong copper and gold production from Hudbay’s stable operating platform with three long-life operations in tier-one mining jurisdictions in the Americas. Consolidated copper production is expected to average 144,000i tonnes per year over the next three years, maintaining stable production levels from 2024. Consolidated copper production of 161,000i tonnes is expected in 2027, representing a 17% increase from 2024 and reflects the benefits from the completion of the optimization efforts at Copper Mountain. Strong complementary gold exposure with consolidated gold production expected to average 253,000i ounces per year over the next three years, reflecting continued strong production in Manitoba and a contribution from Pampacancha high grade gold zones in Peru in 2025. Constancia’s expected mine life maintained until 2041 with stable average annual copper production of over 88,000i tonnes expected over the next three years, in spite of the depletion of Pampacancha in late 2025. Snow Lake’s expected mine life optimized to 2037 with average annual gold production of over 193,000i ounces expected over the next three years and higher mill throughput rates at New Britannia driving higher life-of-mine gold production. Copper Mountain’s expected mine life maintained until 2043 with average annual copper production of 44,000i tonnes expected over the next three years, including 60,000i tonnes in 2027, a 127% increase from 2024. Announcing accretive transaction to consolidate a 100% interest in Copper Mountain, further increasing Hudbay’s exposure to a long-life, high-quality copper asset in a tier-1 mining jurisdiction, and results in a 200% increase in attributable copper production from Copper Mountain in 2027 compared to 2024. Large exploration program in Snow Lake continues to execute threefold strategy focused on near-mine exploration to increase near-term production and mineral reserves, testing regional satellite deposits for additional ore feed to utilize avail...