Hudbay Minerals Inc. (HBM) Form 6-K — Oct 23, 2026
Hudbay Minerals filed the NI 43-101 technical report for its 2026 Copper World Definitive Feasibility Study in Arizona, showing 390.4 million tonnes of Proven & Probable reserves grading 0.47% copper plus 1,236 million tonnes of M+I inclusive resources at 0.40% Cu. The Extension Case carries an unlevered after-tax NPV8% of $2,510M, an after-tax IRR of 18.8%, a 5.4-year payback, and average annual EBITDA of $522M at a $5.00/lb copper price, with base case cash costs of $1.70/lb.
Key figures
- Nsr cutoff
- $6.03/st (resource), $5.80/st (reserve pit)
- Resource cu grade
- 0.40%
- Cash cost base case
- $1.70/lb Cu
- Extension case npv8
- $2,510M
- Extension case npv10
- $1,685M
- Mitsubishi ownership
- 30%
- Closure cost base case
- $138M
- Copper price assumption
- $5.00/lb
- Proven reserves cu grade
- 0.47%
- Resource m plus i tonnes
- 1,236.0 million tonnes
- Wheaton contingent payment
- up to $70M
- After tax irr extension case
- 18.8%
- Extension case payback years
- 5.4
- Incremental npv clf extension
- $226M
- Sustaining cash cost base case
- $2.21/lb Cu
- Wheaton stream upfront deposit
- $230M
- Mitsubishi initial contribution
- $420M cash, plus additional $180M
- Reserves proven probable tonnes
- 390.4 million metric tonnes
- Extension case annual avg ebitda
- $522M
AI analysis
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