Hudbay suspends Snow Lake Manitoba operation due to wildfires
Hudbay Minerals Inc. [HBM-TSX, NYSE] said it has responded to wildfire activity in the region by enabling a temporary suspension of operations in Snow Lake, Manitoba. Some exploration activities near Snow Lake have also been paused.
“We expect a quick and safe return to full operations as soon as possible, and we will continue to work with local and provincial authorities to ensure continued rebuilding of our communities after this difficult wildfire season,” said Rob Carter, Hudbay’s Senior Vice President, Canada.
Meanwhile, the company says it continues to respond to the wildfire situation in northern Manitoba and is working closely with local and provincial authorities to ensure its employees remain safe. It is also working to ensure that its employees comply with the mandatory wildfire evacuation order effective (July 10, 2025) for the town of Snow Lake.
Through the company’s emergency preparedness procedures, all assets have been secured, and a limited workforce remains at site to conduct ongoing monitoring programs and assist with emergency activities, the company said in press release.
Hudbay believes its infrastructure and facilities in Snow Lake are well-protected from wildfires and have a low risk of being damaged. Activities in Flin Flon continue unaffected given the current wildfires are not located near the city of Flin Flon.
On Friday, the shares eased 3.7% or 0.55 to $14.18. The shares are trading in a 52-week range of $15.19 and $8.49.
Hudbay’s operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba and the Copper Mountain mine in B.C. Copper is the primary metal produced by the company, which is complemented by meaningful amounts of gold. The company’s growth pipeline includes the Copper World project in Arizona, the Mason project in Nevada, and the Llaguen project in La Libertad, Peru.
Hudbay’s Manitoba business is the historical cornerstone of the company’s operational strength, underpinned by the long-life Snow Lake operations that currently have a mine life until 2027. Since 2021, the Snow Lake operations have transformed to be a primary gold producer, and the operations are expected to deliver 200,000 ounces at a cash cost of US$750 an ounce in 2025. Gold production is expected to remain strong and average 193,000 ounces annually for the next three years.
With approximately 1.7 million ounces of gold contained in current mineral reserve estimates and another 1.3 million ounces in inferred mineral resources, Hudbay expects to continue to unlock significant value in Snow Lake and looks forward to further expanding the resource base through regional exploration as the company continues to execute one of the largest exploration projects in its history at Snow Lake.