Hudbay lifts Snow Lake gold production outlook by 60% - Mining.com.au

AI desk brief

Hudbay raised Snow Lake’s life-of-mine gold output by 60% to 2.8Moz after updating reserves and the mine plan, extending operations to 2043. The company now estimates 2Moz of gold reserves at Snow Lake, including about 124,000oz of new reserves since March 2026 and roughly 510,000oz added this year, which has lengthened mine life by six years.

For 2026-2030, Hudbay now expects average gold production of 185,000oz/yr, 37% above prior guidance. The uplift is being driven by optimization at the New Britannia mill and higher recoveries from the Stall concentrator, reinforcing Snow Lake’s transition from a zinc-led asset to a more significant Canadian gold operation.