Business UpdateSep 28, 2026, 11:51 AM
Hudbay Extends Snow Lake Mine Life to 18 Years, Boosts Gold Output
AI Summary
Hudbay Minerals Inc. has updated its mine plan for its Snow Lake operations, extending the reserve mine life to 18 years and increasing total life-of-mine gold production by 60% to 2.8 million ounces. The company also raised its five-year average annual gold production forecast by 37% to 185,000 ounces. These enhancements are driven by increased mineral reserves and resources, progress on the 1901 deposit, and the identification of the Britannia Gold Project as a potential new anchor deposit.
Key Highlights
- Snow Lake mine life extended to 18 years (to 2043), adding 6 years since March 2026.
- Average annual gold production for 2026-2030 increased by 37% to 185,000 ounces.
- Total life-of-mine gold production increased by 60% to 2.8 million ounces.
- Mineral reserve estimates increased to 27 million tonnes containing 2.0 million ounces of gold.
- Mineral resource estimates increased to 21 million tonnes containing 1.5 million ounces of gold.
- 1901 exploration and development on track for full production in late 2027.
- Stall hot tailings project expected to be commissioned in early 2028.
- Britannia Gold Project identified as a new anchor deposit opportunity.
Price Impact
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