TORONTO, June 12, 2024 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “Company”) (TSX, NYSE: HBM) today announced the release of its integrated annual and sustainability report (“Integrated Annual Report”) which provides transparency and progress on key business accomplishments and sustainability initiatives in 2023 along with goals for the upcoming year and longer term.
“For close to a century, Hudbay has been mining critical metals the world needs and creating value for our stakeholders – employees, community members, customers, consumers and investors – that extends far beyond investment returns,” said Peter Kukielski, Hudbay’s President and Chief Executive Officer. “In 2023, we made significant advances concerning organization-wide priorities, including purpose, culture and sustainability. We also enhanced our operating platform with the recent completion of brownfield investments in Peru and Manitoba along with the acquisition of Copper Mountain, which contributed to significant revenue generation, free cash flow growth and balance sheet deleveraging. We remain committed to building close relationships with our local communities and to always operating safely and efficiently. By producing essential metals and operating sustainably, we strive to align our actions with a broader vision of responsible and ethical business practices.”
Hudbay’s purpose statement serves as the cornerstone for the company’s commitment to sustainability: “We care about our people, our communities and our planet. Hudbay provides the metals the world needs. We work sustainably, transform lives and create better futures for communities.”
Our Planet
Our People
Our Communities
Hudbay is pleased with the steps taken in 2023 towards its long-term sustainability goals. In 2024, the company intends to continue on its path to always operate safely and sustainably, aligned with Hudbay’s purpose to ensure that the company’s activities have a positive impact on its people, its communities and its planet. The company is committed to continuing its sustainability efforts by working towards reducing its carbon footprint through pursuing improvements across the business to reduce GHG emissions by 50% by 2030, continuing stewardship of water and biodiversity with progressive rehabilitation efforts, advancing stakeholder engagement through respectful and open dialogue with its local communities, continuing to enhance its diversity and delivering strong governance and transparent disclosure.
Details of the company’s annual and sustainability results can be found on Hudbay’s website at: https://hudbayminerals.com/disclosure-centre/default.aspx and the full Integrated Annual Report can be downloaded here.
Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian and United States securities legislation. All information contained in this news release, other than statements of current and historical fact, is forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “budget”, “guidance”, “scheduled”, “estimates”, “forecasts”, “strategy”, “target”, “intends”, “objective”, “goal”, “understands”, “anticipates” and “believes” (and variations of these or similar words) and statements that certain actions, events or results “may”, “could”, “would”, “should”, “might” “occur” or “be achieved” or “will be taken” (and variations of these or similar expressions).
All of the forward-looking information in this news release is qualified by this cautionary note. Forward-looking information in this news release includes, but is not limited to, statements regarding GHG reduction and emission targets, anticipated environmental, health and safety performance and initiatives, and anticipated social development programs. Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by the company at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward-looking information.
The risks, uncertainties, contingencies and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking information are described under the heading “Risk Factors” in the company’s most recent annual information form for the year ended December 31, 2023. Should one or more risk, uncertainty, contingency or other factor materialize or should any factor or assumption prove incorrect, actual results could vary materially from those expressed or implied in the forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Hudbay does not assume any obligation to update or revise any forward-looking information after the date of this news release or to explain any material difference between subsequent actual events and any forward-looking information, except as required by applicable law.
About Hudbay
Hudbay (TSX, NYSE: HBM) is a copper-focused mining company with three long-life operations and a world-class pipeline of copper growth projects in tier-one mining-friendly jurisdictions of Canada, Peru and the United States.
Hudbay’s operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). Copper is the primary metal produced by the company, which is complemented by meaningful gold production. Hudbay’s growth pipeline includes the Copper World project in Arizona (United States), the Mason project in Nevada (United States), the Llaguen project in La Libertad (Peru) and several expansion and exploration opportunities near its existing operations.
The value Hudbay creates and the impact it has is embodied in its purpose statement: “We care about our people, our communities and our planet. Hudbay provides the metals the world needs. We work sustainably, transform lives and create better futures for communities.” Hudbay’s mission is to create sustainable value and strong returns by leveraging its core strengths in community relations, focused exploration, mine development and efficient operations.
For further information, please contact:
Candace Brûlé
Vice President, Investor Relations
(416) 814-4387
investor.relations@hudbay.com
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i Hudbay’s climate change targets were established in 2022 and are based on a 2021 baseline for Scope 1 and Scope 2 GHG emissions from existing operations. The targets exclude the British Columbia operations which were acquired in 2023, and the company is evaluating the impact of the British Columbia operations on Hudbay’s GHG reduction roadmap.
ii Water recycled does not include the full impact of the company’s British Columbia operations as process water data was not available at the time of data collection.