Hudbay Minerals Inc.

Hudbay’s SVP and CFO, Eugene Lei, will be speaking at the Bloomberg Canadian Finance Conference on Wednesday, October 16.   He will share the stage with other industry veterans to discuss the importance of responsible mining practices in shaping a sustainable future, address the industry's essential role in the clean energy transition, and provide insights on how critical metals support innovation across various sectors.   This is an event you won’t want to miss! Register now: https://bit.ly/3XBS7Um

On September 14, 2024, Hudbay’s Lalor Mine opened its doors for a special Family Day event, bringing together around 300 participants, including employees and their loved ones. This unique experience allowed attendees to explore the mine firsthand, featuring a journey 910 meters underground, enhanced by lighting in the cage that created a truly memorable descent.   Participants also had the opportunity to take part in the “tag in” process and tour the Mobilaris and remote operator rooms.   Hudbay values the chance to connect with the communities we serve. Thank you to everyone who contributed to the success of the event!

Today, on the National Day for Truth and Reconciliation, Hudbay reflects and honours the survivors, their families, and communities who were gravely impacted by residential school institutions and remembers the children who never returned home.     We recognize the profound generational impact these institutions had, and continue to have, on Indigenous Peoples and their communities. Hudbay remains committed to listening, learning and working alongside Indigenous Peoples and communities to seek truth, take action, and contribute to advancing reconciliation. Through our participation in initiatives like the Indigenous Circle for Everyone program and guidance from the Partnership Accreditation in Indigenous Relations program, we aim to foster an environment that promotes cultural understandings that strives to preserve Indigenous heritage. We also focus on local employment, support Indigenous businesses, and observe days of cultural significance like Red Dress Day and Orange Shirt Day, as part of our ongoing efforts to gain awareness and as we seek to strengthen our relationships with the Indigenous communities we work with.   Here are resources for support:     - Indian Residential School Crisis Line is a national service for anyone experiencing pain or distress as a result of their residential school experience. Call toll-free 1-866-925-4419.  - Hope for Wellness Help Line offers immediate mental health counselling and crisis intervention by phone or online chat. Call toll-free 1-855-242-3310 or start a confidential chat with a counsellor at hopeforwellness.ca. 

Hudbay recently collaborated with the NGO ‘Peru Vida’ and the Cusco Regional Government to enhance visual health for local school children. Led by the Regional Health Management and professionals from the National Institute of Ophthalmology, the initiative provides screenings, treatment, and glasses to address common vision issues among young students in Cusco. With plans to expand across all 13 provinces of the Cusco region, this program is designed to make a lasting impact on children's health and academic success. Learn more: https://shorturl.at/cBDf3

Hudbay is committed to fostering a diverse and inclusive workplace that empowers all our employees to thrive. Our ongoing culture initiative is shaping a collaborative, agile, and performance-driven environment where everyone can contribute their best.   We’re particularly proud of our efforts to support women in mining, including our expanded participation in a Canadian women-in-mining networking and leadership development program. In 2023, two of our talented women leaders benefited from this year-long program, and we’re excited to sponsor two more in 2024. By investing in diverse talent and creating inclusive leadership pathways, we’re building a stronger, more innovative Hudbay for the future.

Hudbay’s commitment to empowering and driving long-term development in our operating regions is exemplified by the latest initiative in Peru.   Most recently, we provided the Livitaca district with Caterpillar heavy machinery to strengthen essential infrastructure. This investment, made in collaboration with local decision-makers, will support road construction and maintenance, directly benefiting the community. Learn more here: https://lnkd.in/enNqEpkJ

Hudbay is pleased to announce that we’ve received the Aquifer Protection Permit for the Copper World project from the Arizona Department of Environmental Quality, a crucial milestone in advancing the project. We have worked closely with regulators to ensure a transparent permitting process and are now progressing toward obtaining the final state-level Air Quality Permit.   We’re grateful for the strong local support shown during the public comment meetings, reflecting the community’s commitment to the project. We anticipate creating over 400 direct jobs and up to 3,000 indirect local jobs, with competitive wages and benefits. Hudbay will continue to actively partner with local apprenticeship readiness and community-based workforce training programs to ensure we fill and sustain these positions. Our dedication to delivering tangible social, economic and environmental benefits to Arizona is unwavering.    Copper World will be instrumental in meeting domestic copper needs, supporting local manufacturing and contributing to energy independence. Once operational, it will stand as one of the largest copper cathode producers in the country, generating valuable economic opportunities and supporting local growth.   Read more: https://lnkd.in/ekVmXAve

This week marks a significant milestone for northern Manitoba with the first critical mineral shipment in over 20 years exported from the Port of Churchill. Hudbay’s zinc concentrate from Snow Lake was part of this historic shipment, opening new trade opportunities through the port and Hudson Bay Railway, and reinforcing the region’s economic potential.

The City of Flin Flon and Dinosaur Valley Studios have released a mini-documentary celebrating the town’s rich history. Hudbay is included in the story, highlighting the positive impact our mining operations in Northern Manitoba have had on Flin Flon’s development over the years.   We remain dedicated to Northern Manitoba and are focused on ongoing growth and community support while exploring new regional opportunities.   Watch the documentary here: https://lnkd.in/ei6R8TGW

Yesterday, Hudbay released our Q2 2024 results, reaffirming the company’s full-year 2024 consolidated production guidance and improving 2024 consolidated cash cost guidance. Among the highlights, we achieved consolidated copper production of 28,578 tonnes and gold production of 58,614 ounces, which aligns with quarterly production cadence expectations for 2024. - Through accelerated deleveraging efforts and continued cash flow generation, net debt was significantly reduced to $631.8 million in the second quarter of 2024, a decrease of $405.9 million over the first half of 2024. - In Peru, our operations continue to benefit from strong mill throughput with the Pampacancha stripping program progressing as planned to unlock higher grades in Q4 2024. - In Manitoba, the New Britannia mill continued to exceed expectations, operating well above nameplate capacity and budgeted throughput levels. - In British Columbia, the Copper Mountain mine ongoing stabilization initiatives are well underway, focused on ramping up the mining fleet, accelerating stripping activities, and enhancing mill reliability. Hudbay’s diversified operating base uniquely positions us to benefit from higher copper and gold prices while continuing to generate attractive free cash flow. This has led to robust EBITDA generation over the past 12 months, enabling the company to significantly accelerate our deleveraging efforts and transform our balance sheet. We are now even better positioned to continue to advance our many growth initiatives to unlock significant upside potential in our pipeline and further enhance our copper and gold exposure. Read the full release: https://lnkd.in/gSHM7ypg