Hudbay Minerals Extends Snow Lake Mine Life, lifts gold Targets

Hudbay Minerals extended the mine life of its Snow Lake operations by two years and raised its life-of-mine gold production target by more than half. The updated plan projects average gold output of 185,000 ounces at an all-in-sustaining cost of $1,379 an ounce through 2030. gold reserves increased 38% to 2 million ounces. Total life-of-mine gold production is now expected to reach 2.8 million ounces, a 60% increase over the 2021 technical report. The extension adds six years total to mine life when combined with a prior four-year extension, pushing operations through 2043.