This operating efficiency has allowed Hudbay to improve its consolidated cash cost guidance range to $0.90-$1.10/lb., a reflection of its meaningful exposure to gold byproduct credits and continued strong cost control.
For the quarter, the company achieved consolidated copper production of 28,578 tonnes and gold production of 58,614 ounces, both in line with its annual guidance as well.
The addition of the Copper Mountain mine in British Columbia, in which Hudbay owns 75%, helped to deliver a 32% increase in copper production and 20% increase in gold production over Q2 2023.
As a result, Hudbay has reaffirmed its full year 2024 consolidated production guidance for all metals — 137,000 to 176,000 tonnes of copper and 263,000 to 319,000 ounces of gold — as the company expects stronger production in the second half.
Financially, while the miner recorded a rise in quarterly revenue at $425.5 million from $312.2 million last year,…
