Hudbay Minerals expects record Q4 copper production

The company said, “Hudbay reaffirms its FY24 consolidated production guidance for all metals as the company continues to deliver strong operating performance and expects the Q4 to be the highest copper production quarter in 2024, in line with the company’s quarterly cadence expectations. The company expects 2024 consolidated copper production to trend towards the lower end of the guidance range and 2024 consolidated gold production to trend towards the higher end of the guidance range. In Peru, the Q4 is expected to be the strongest quarter this year, and full year copper production is expected to trend towards the lower end of the guidance range, while gold production is expected to trend towards the higher end of the guidance range”. The added, “Hudbay is again improving its FY24 consolidated cash cost guidance range to 65c-85c per pound copper from the previously announced range of 90c-$1.10 per pound and the original guidance range of $1.05-$1.25 per pound. The company is also improving its 2024 annual consolidated sustaining cash cost guidance range to $1.75-$2.20 per pound copper from the original guidance range of $2.00-$2.45 per pound. This is a result of increased exposure to gold by-product credits and continued strong cost control at all operations. The company has reaffirmed all other 2024 guidance metrics.”