- Business
- Hudbay Minerals Inc. is a Canadian integrated mining company primarily engaged in the exploration, development, production, and marketing of copper, gold, silver, zinc, and molybdenum. The company operates three main polymetallic mines: the Constancia mine in Cusco, Peru; the Snow Lake operations in Manitoba, Canada; and the Copper Mountain mine in British Columbia, Canada. Hudbay produces copper concentrates containing copper, gold, and silver as well as zinc metal, and it maintains a growth pipeline that includes the Copper World project in Arizona, the Mason project in Nevada, and the Llaguen project in La Libertad, Peru, alongside various expansion and exploration opportunities near existing sites. Founded in 1927 and headquartered in Toronto, Canada, Hudbay focuses on advancing long-life, low-cost mining assets in tier-one jurisdictions across North and South America. In recent major developments, Hudbay consolidated 100% ownership of the Copper Mountain mine through a transaction completing in 2025, involving an upfront cash payment and deferred contingent payments, simplifying the mine's ownership structure and enhancing the company’s copper production profile notably in North America. Additionally, Hudbay secured a $600 million strategic investment from Mitsubishi Corporation for a 30% joint venture interest in the Copper World project, underlining its growth strategy in copper assets. Operational improvements have led to increased production efficiencies and higher-grade ore processing, with full-year 2024 production reporting 137,943 tonnes of copper, 332,240 ounces of gold, 3,983,851 ounces of silver, and 33,339 tonnes of zinc, while advancing mill optimization plans that are expected to further increase throughput in 2025 and beyond. Hudbay is listed on the Toronto Stock Exchange, New York Stock Exchange, and Bolsa de Valores de Lima under the ticker symbol HBM.