Hudbay Minerals Inc. released its annual mineral reserve and resource update and issued new three-year production guidance through 2028, demonstrating increased copper and strong gold production from its three long-life operations in the Americas. The update includes mine life extensions at Constancia, Snow Lake, and Copper Mountain operations, and highlights the completion of a $600 million joint venture with Mitsubishi Corporation for the Copper World project.
Key takeaways
Consolidated copper production is expected to average 147,000 tonnes per year over the next three years, an increase of 24% from 2025 production.
Consolidated gold production is expected to average 243,000 ounces per year over the next three years.
Constancia's expected mine life extends to 2040, with average annual copper production expected to increase 9% to 90,000 tonnes per year in 2027 and 2028 from 2026 levels.
Snow Lake's expected mine life extended by four years to 2041, with average annual gold production of 190,000 ounces expected over the next three years.
Copper Mountain's expected mine life extended by two years to 2045, with copper and gold production averaging 57,500 tonnes and 38,500 ounces, respectively, per year over 2027 and 2028.
Closed a $600 million joint venture transaction with Mitsubishi Corporation in January 2026 for the development of Copper World, securing a 30% strategic partner.