Hudbay Resumes Operations in Peru

Executive Summary

• Hudbay Minerals has resumed full‑mill production at its Constancia mine in Peru after a temporary shutdown caused by local protests and illegal blockades.
• The company performed preventative maintenance during the downtime and expects workforce levels to return to normal in the coming days, maintaining confidence in meeting its 2025 production and cost guidance.
• A delayed 20,000‑dry‑metric‑tonne copper concentrate shipment was shifted from late September to early October and subsequently sold in Q4, with inventory levels now normalized.

Key Details

• Operations were suspended on September 22, 2025 as a safety precaution amid protests and blockades.
• Mill is now operating at full production levels following the restart.
• Preventative maintenance was performed on the mill and selected mining equipment during the shutdown.
• Workforce numbers are expected to return to normal over the next few days.
• Hudbay continues to expect to meet its 2025 production and cost guidance ranges despite the interruption.
• The earlier protest‑related disruption in Q3 impacted transportation of supplies and concentrate, affecting mine sequencing.
• A 20,000 dry metric tonne copper concentrate shipment originally scheduled for late September was deferred to early October, reducing Q3 sales volumes; the shipment was sold early in Q4.
• Concentrate inventory levels have now normalized after replenishment and reduced on‑site stocks.

Notable Quotes

(No direct quotes were provided in the release.)