Hudbay Minerals Inc. reports developments as a copper-focused critical minerals miner with producing operations in Peru and Canada and copper growth projects in the United States and Peru. Its operating portfolio includes the Constancia mine in Cusco, the Snow Lake operations in Manitoba and the Copper Mountain mine in British Columbia; copper is its primary metal, with gold production and by-product zinc, silver and molybdenum.
Recurring Hudbay news covers operating and financial results, production and cost guidance, mineral reserve and resource updates, mine-life and permitting matters, project development at Copper World, Mason and Llaguen, and balance-sheet actions such as senior note repayment and credit-facility use.
Hudbay Minerals (HBM) has filed an updated technical report covering its wholly owned Snow Lake mining operations in Manitoba.
The updated plan projects average annual gold production of 185,000 ounces over 2026–2030, with a reported 37% increase in the five-year production profile. Total life-of-mine gold production increased 60% to 2.8 million ounces versus 1.8 million ounces in the 2021 report; the updated comparison includes actual production since 2021. Proven and probable reserves extend mine life to 2043. Reserve estimates reached 27 million tonnes containing 2.0 million ounces of gold, with tonnage up 38% from January 1, 2026. The plan incorporates higher New Britannia mill throughput and higher gold recoveries at the Stall mill.
Hudbay Minerals (HBM) and Mitsubishi approved construction of Copper World in Arizona, targeting first production in the second half of 2029. Hudbay owns 70% and Mitsubishi 30%. The feasibility studies forecast average annual copper production of 102,000 tonnes over the first 10 years, up 11% from the 2023 study, at average cash costs of $1.65 per pound.
Initial growth capital is $2.07 billion, or $1.84 billion net of a precious metals stream deposit. Hudbay expects approximately $500 million in capital contributions, starting in 2028. At $5.00-per-pound copper, the 15-year Base Case has an after-tax net present value of $1.2 billion using an 8% discount rate and a 17% internal rate of return. The 37-year Extension Case has a $2.5 billion valuation on the same basis and a 19% return, but requires federal permits. All major permits for construction and initial operations have been obtained.
Hudbay Minerals (HBM) will host a conference call on November 12, 2026, to discuss its third-quarter 2026 results. The call begins at 11:00 a.m. ET. Hudbay plans to release the results before the market opens that day and post them on its website. An archived audio webcast will be available on the website after the call.
Hudbay Minerals (HBM) updated its Snow Lake mine plan, extending proven and probable reserve mine life to 2043. That adds two years to the January 2026 estimate and brings this year's total extension to six years. The reserve-based plan projects average annual gold production of 185,000 ounces in 2026–2030, a 37% increase over the same period in the 2021 technical report. Planned life-of-mine gold production rises to 2.8 million ounces from 1.8 million ounces.
As of September 1, 2026, reserves total 27 million tonnes containing approximately 2.0 million ounces of gold; resource estimates total 21 million tonnes containing 1.5 million ounces. Hudbay projects average 2026–2030 gold cash costs of $821 per ounce and sustaining cash costs of $1,379 per ounce. The plan adds reserves at Talbot and Rail. Hudbay expects 1901 to reach full production in late 2027 and the Stall hot tailings project to be commissioned in early 2028. Further resource conversion and exploration remain outside the reserve-based mine plan.
Hudbay (HBM) has been named a 2026 TSX30 winner by the Toronto Stock Exchange, recognizing its performance among the top 30 stocks over the past three years.
The ranking is based on dividend-adjusted share price performance for the three-year period ending June 30, 2026, during which Hudbay’s share price increased 427%. The company’s CEO, Peter Kukielski, linked the recognition to operating consistency, financial performance and total shareholder returns, noting it comes as Hudbay approaches its 100th year of operations. Hudbay describes itself as a copper-focused critical minerals miner with three long-life operations and a pipeline of copper growth projects across Canada, Peru and the United States.
Hudbay (TSX, NYSE: HBM) filed an early warning report regarding its holdings in Panoro Minerals after Panoro’s issued and outstanding common shares increased from 308,010,821 on May 27, 2026 to 309,215,351 on August 24, 2026. Hudbay did not sell any shares and continues to hold 30,823,849 Panoro common shares.
As a result of this dilution, Hudbay’s ownership in Panoro decreased from approximately 10.01% to 9.97%, causing Hudbay to cease being a “reporting insider” under Canadian securities laws. Hudbay retains contractual pre-emptive anti-dilution rights, provided it maintains at least 5% ownership of Panoro’s issued and outstanding common shares.
Elemental Royalty (NASDAQ/TSX: ELE) reported strong Q2 2026 results, with revenue of US$23.8 million, up 127% year-over-year versus revenue plus attributable Caserones, record quarterly GEOs of 5,248, operating cash flow of US$15.5 million, and adjusted EBITDA of US$17.4 million, up 99%.
For H1 2026, Elemental generated revenue of US$48.1 million and record GEOs of 10,231. Cash stood at US$74.2 million, and the company reaffirmed 2026 guidance of 17,000–21,000 GEOs and revenue of US$76.5–94.5 million. Strategic actions included the agreed acquisition of Vizsla Royalties, a 2.5% NSR on Western Queen for A$10 million, a quarterly dividend of US$0.03 per share with an option to receive Tether Gold, and a normal course issuer bid authorizing repurchases of up to 3,222,537 shares, of which 146,029 have been repurchased to date. Elemental also up-listed to the TSX main board and was added to major indices, while cornerstone assets such as Caserones, Bonikro, Karlawinda, Timok, and Leeville delivered significant royalty revenue.
Hudbay (TSX, NYSE: HBM) announced the appointment of Thomas Schulz to its Board of Directors. Board chair David Smith highlighted Schulz’s global leadership background and mining industry expertise as valuable for overseeing Hudbay’s growth and project pipeline.
Schulz is currently Chief Executive Officer of Bilfinger SE, a German industrial service provider in the process industry. His 25+ years of executive experience include nine years as Group CEO of FLSmidth, senior roles at Sandvik including President of Sandvik Construction, and board positions at Norsk Hydro ASA, Boart Longyear Group and Konecranes PLC, where he remains a director. He holds a PhD in mineral mining and quarrying and an engineering diploma in mineral processing from RWTH Aachen University. Hudbay describes itself as a copper-focused critical minerals producer with three long-life operations in Canada and Peru and a pipeline of copper growth projects in Canada, Peru and the United States.
Hudbay (TSX, NYSE: HBM) announced a correction to the record and payment dates for its upcoming quarterly cash dividend to be paid in September 2026, after a typographical error in a July 29, 2026 release.
A quarterly dividend of C$0.01 per share was declared on July 28, 2026 and will now be paid on September 25, 2026 to shareholders of record at the close of business on September 8, 2026. According to Hudbay, all other terms of the September 2026 quarterly cash dividend remain unchanged.
Hudbay (TSX/NYSE: HBM) reported Q2 2026 revenue of $631.3 million, net earnings attributable to owners of $137.4 million ($0.34/share), adjusted EBITDA of $321.2 million and free cash flow of $101.8 million, with record trailing 12‑month adjusted EBITDA of $1.27 billion.
Consolidated Q2 production was 28,267 tonnes of copper and 51,234 ounces of gold, and full‑year 2026 copper and gold production guidance was reaffirmed. Hudbay improved 2026 consolidated cash cost guidance to $(0.45)–$(0.25) per pound of copper and ended the quarter with $1.04 billion in liquidity and negative net debt of $80.5 million. The company advanced its Copper World project and Cactus following the Arizona Sonoran acquisition, secured Peru mill capacity expansion, progressed New Ingerbelle, and announced leadership changes, appointing Eugene Lei as President and CFO and Rob Carter as COO.