Hudbay extends Snow Lake reserve mine life to 2043 in updated mine plan
HBM•Hudbay Minerals’ updated Snow Lake mine plan extends proven and probable reserve life by two years to 2043. It forecasts average annual gold output of 185,000 ounces in 2026-2030 and estimates life-of-mine production of 2.8 million ounces.
1. Updated production outlook
The plan forecasts average gold output of 185,000 ounces per year from 2026 through 2030, 37% above the 2021 technical report. Life-of-mine gold production is estimated at 2.8 million ounces, up 60%, while mineral reserves increased to 27 million tonnes containing 2.0 million ounces.
2. Costs and project timing
Average gold cash costs are projected at $821 per ounce for 2026-2030, with sustaining cash costs at $1,379 per ounce. Development of the 1901 deposit remains on track for full production in late 2027, and the Stall hot tails project is targeted for commissioning in early 2028.
