Hudbay shuts down Constancia over nearby protests

Executive Summary

• Hudbay Minerals reports that civil unrest in Peru has led to temporary shutdown of the Constancia mill and demobilization of non‑essential staff.
• The company is using the downtime for preventative maintenance and does not expect the disruptions to affect its 2025 production or cost guidance.
• Hudbay emphasizes ongoing collaboration with government authorities and local communities to resolve the protests promptly.

Key Details

• Social unrest escalated over the weekend with riots in Lima and protests across Peru, affecting mines in the southern mining corridor, including Constancia.
• Safety measures taken: temporary demobilization of non‑essential workforce; mill shutdown as a safety precaution.
• Mill remained operational over the weekend but was shut down following nearby demonstrations to allow authorities to address illegal blockades.
• Planned use of downtime: preventative mill maintenance and possible advancement of scheduled maintenance originally planned for later in the year.
• Hudbay asserts that the temporary disruptions will not impact its ability to meet 2025 production and cost guidance ranges.
• The company will continue to work with government and legal authorities, as well as engage protestors, to achieve a prompt resolution.
• Historical context: Since commencing operations at Constancia in 2014, Hudbay has focused on stakeholder engagement and sustainable long‑term operations.

Notable Quotes

• “The safety of all personnel is the company's top priority… we intend to utilize the downtime to perform preventative mill maintenance.” – Company statement.