Hudbay lifts Snow Lake gold output estimate by 60%

AI desk brief

Hudbay lifted life-of-mine gold output at Snow Lake by about 60% to 2.8 million ounces under an enhanced mine plan, extending mine life by two years to 2043 versus its 2021 technical report. The company now expects average production of 185,000 oz/year from 2026-2030, up 37% from the prior five-year plan, with stronger throughput at New Britannia and higher recoveries at Stall driving the increase.

Hudbay guided to average gold cash costs of $821/oz and sustaining cash costs of $1,379/oz over 2026-2030, implying continued solid margins and free cash flow contribution from Snow Lake. The update reinforces the operation’s shift from a zinc asset into a meaningful gold source for Hudbay while the company advances its copper pipeline.