Hudbay presents outlook for 70% copper production growth with Copper World
HBM•Hudbay reaffirmed its 2026 production guidance and improved its consolidated cash cost guidance to negative $0.45–$0.25 per pound. Second-quarter adjusted EBITDA was $321 million, free cash flow was $101.8 million and net cash stood at $80.5 million.
1. Guidance and results
Hudbay Minerals reaffirmed its 2026 production guidance at the Goldman Sachs Global Metal & Mining Conference and narrowed its consolidated cash cost guidance to negative $0.45–$0.25 per pound, from negative $0.30–$0.10. Second-quarter adjusted EBITDA reached $321 million and consolidated free cash flow totaled $101.8 million.
2. Balance sheet and reserves
The company reported net cash of $80.5 million and a net debt-to-adjusted EBITDA ratio of negative 0.1 times. Hudbay said the Snow Lake mine life was extended to 2043 and reserve tonnage had increased 38% since January 2026.
