08:24 AM EDT, 03/27/2026 (MT Newswires) -- Hudbay Minerals ( HBM ) on Friday affirmed 2026 production guidance and issued new 2027 and 2028 production guidance "demonstrating" increased copper and strong gold production from its "stable" operating platform with three long-life operations in tier-one mining jurisdictions in the Americas.

Among highlights, HBM said consolidated copper production is expected to average 147,000 tonnes per year over the next three years, an increase of 24% from 2025 production. Consolidated copper production is expected to average 159,000 tonnes per year in 2027 and 2028, representing a 28% increase from expected 2026 production. "This reflects the benefits from the expected completion of the optimization efforts at Copper Mountain and mill throughput improvement projects at Constancia in 2026," it added.

HBM flagged "strong" complementary gold exposure with consolidated gold production expected to average 243,000 ounces per year over the next three years, reflecting "continued strong production" in Manitoba and the expected contribution from New Ingerbelle in British Columbia starting in 2028.

It said Constancia's expected mine life extends to 2040, reflecting higher mill throughput rates contributing to a 9% increase in expected average annual copper production to 90,000i tonnes per year in 2027 and 2028 from 2026 levels.

Snow Lake's expected mine life is extended by four years to 2041, with average annual gold production of 190,000i ounces expected over the next three years from continued strong mill throughput rates at New Britannia.

Copper Mountain's expected mine life is extended by two years to 2045, with "significantly" higher copper and gold production averaging 57,500 tonnes and 38,500 ounces, respectively, per year over 2027 and 2028, an increase of 92% and 43%, respectively, from 2026 levels. HBM said this increase reflects higher mill throughput, higher grades from completion of the accelerated stripping program in late 2026 and the expected contribution from New Ingerbelle starting in 2028.

HBM said a large exploration program in Snow Lake continues to execute a threefold strategy "focused on near-mine exploration to increase near-term production and mineral reserves, testing regional satellite deposits for additional ore feed to utilize available capacity at the Stall mill, and exploring the large land package for a potential new anchor deposit to meaningfully extend mine life".

The company added a definitive feasibility study at Copper World is "on track" for completion in mid-2026 with a sanctioning decision expected in 2026. It closed the accretive US$600 million joint venture transaction with Mitsubishi Corporation in January 2026, "securing a premier, long-term 30% strategic partne"r for the development of Copper World and achieving the key financial elements of the company's 3-P plan.

"Our updated mineral reserve estimates and three-year production outlook demonstrate Hudbay's continued success from our exploration initiatives and an improved copper and gold production profile from our three long life operations in tier one mining jurisdictions in the Americas," said Peter Kukielski, Hudbay's President and Chief Executive Officer.

"With our newly released guidance through 2028, consolidated copper production is expected to increase by 24%, complemented by continued strong gold exposure. This growth is underpinned by meaningful mine life extensions at Snow Lake and Copper Mountain reinforcing the longevity and upside of our operating base. As we embark on generational reinvestments across our business in exploration and brownfield growth opportunities, continue to advance Copper World toward a sanctioning decision in 2026, and integrate the Cactus project through the strategic acquisition of Arizona Sonoran, Hudbay is in an optimal position to deliver attractive high-return growth, significantly increase long-term copper exposure and unlock meaningful value for stakeholders."

HBM was down 0.35% in US premarket, with broader market futures lower. But its stock did close down near 6% in both the U.S. and in Canada yesterday.