Hudbay Minerals Hit Record Gold Output in Manitoba

SEATTLE (Scrap Monster): The operations and financial results for the third quarter of 2024 were released by Hudbay Minerals Inc. Manitoba's record gold production was the company's main driver of success.

In accordance with quarterly production expectations, the company produced 31,354 tonnes of consolidated copper. Compared to the second quarter of 2024, the production increased by 10%. With a 52% increase from Q2 2024, the 89,073 ounces of gold produced was greatly above forecasts.

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With record gold production at the Manitoba operations, Hudbay's improved operating platform produced a solid quarterly result. In the third quarter of 2024, 62,468 ounces of gold were produced by the Manitoba operations.  The full year Manitoba gold production is expected to exceed the top end of the 2024 guidance range.

The enhanced outcomes were also a result of stability and optimization efforts at the British Columbia (B.C.) Copper Mountain mine. In the third quarter of 2024, 6,736 tonnes of copper were produced by the B.C. operations.

The company reiterated its consolidated production guidance for all metals for the full year 2024. While the consolidated gold production is anticipated to be at the higher end of the guidance range, the consolidated copper production is anticipated to stay at the lower end of the guidance range for the year.