Hudbay Minerals resumes operations at Constancia

Executive Summary

• Hudbay Minerals has restarted full‑production operations at the Constancia mine in Peru after a temporary shutdown caused by local protests and illegal blockades.
• The mill is operating at full capacity; preventive maintenance was performed during the downtime, and the workforce is expected to return to normal levels shortly.
• The company reaffirms its 2025 production and cost guidance and notes that earlier supply‑chain disruptions have been resolved, with concentrate inventory now normalized.

Key Details

• Operations were suspended on Sept. 22 as a safety precaution amid protests; full mill production resumed in early October.
• Preventive maintenance was completed on the mill and selected mining equipment during the shutdown.
• Workforce levels are projected to return to normal over the coming days.
• Hudbay continues to expect to meet its 2025 production and cost guidance ranges despite the brief interruption.
• Earlier regional protests in Q3 impacted transportation of supplies and concentrate, leading to a 20,000‑dry‑metric‑tonne copper concentrate shipment being deferred from late September to early October; the shipment was sold in Q4, normalizing inventory levels.
• The company emphasizes ongoing engagement with local stakeholders and its commitment to safe, responsible operations in Peru.

Notable Quotes

• “The safety of all personnel is our top priority,” said Hudbay management, underscoring the decision to suspend and now resume operations.