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Hudbay Minerals Inc. released an updated mine plan for its Snow Lake operations in Manitoba, extending the proven and…
HBMHudbay Minerals Inc.
Hudbay Minerals Inc. released an updated mine plan for its Snow Lake operations in Manitoba, extending the proven and probable reserve mine life by two years to 2043, adding a total of six years since March 2026. The company increased mineral reserves by 38% to 27 million tonnes containing 2.0 million ounces of gold and raised inferred resources by 26% to 1.5 million ounces. Updated five-year average annual gold production (2026-2030) is 185,000 ounces, a 37% increase from the previous plan, with total life-of-mine gold production rising 60% to 2.8 million ounces. Average gold cash costs are $821 per ounce and sustaining cash costs are $1,379 per ounce for the five-year period. The 1901 deposit is on track for full production in late 2027, while the Stall hot tailings project is expected to commission in early 2028. Hudbay Minerals Inc. operates as a copper-focused critical minerals mining company with operations in Canada and Peru.