Hudbay Publishes 2024 Annual Report, “Built to Grow”

Core Insights - Hudbay Minerals Inc. reported significant achievements in 2024, demonstrating the strength of its operations and project pipeline, while also focusing on sustainability and community engagement [2][10]. Financial Performance - The company met and often exceeded its consolidated production and cost goals for 2024, improving its balance sheet by reducing debt and enhancing free cash flow [2]. - Hudbay's commitment to cost discipline has created value for shareholders [2]. Operational Achievements - Significant permitting milestones were achieved, extending the life of existing operations and creating opportunities for new mines [2]. - The company launched the "Unidas" program in Peru to foster inclusion and support for women in the workplace [5]. Health and Safety - Hudbay's health and safety performance in Peru achieved level AAA ratings across all indicators, with British Columbia and Manitoba also showing strong performance [5]. - A critical risk management program was implemented to eliminate injuries and fatalities [5]. Community Engagement - Hudbay engaged in over 7,500 interactions with more than 3,480 local stakeholders in 2024, focusing on building constructive relationships [6]. - The company created an Indigenous relations strategy in Manitoba to guide efforts towards economic reconciliation [8]. Environmental Commitment - Hudbay's climate change strategy includes specific GHG emissions reduction targets for each business unit, aiming for a 99% reduction in Scope 2 emissions intensity in Peru by 2030 [9]. - The company received level AAA ratings for biodiversity conservation in Peru and Manitoba, reflecting its commitment to sustainable practices [9]. ESG Performance - Hudbay earned an "A" overall ESG rating in MSCI's latest annual ranking, placing it in the "Leaders" category for effective management of ESG risks [9].