HBM News & Events

Hudbay Minerals recently "celebrated" the official groundbreaking of the New Ingerbelle expansion project at its Copper Mountain mine, marking a significant milestone for the operation and its long-term future in British Columbia. The event was attended by Hudbay's executive team, employees, B.C.'s Minister of Mining and Critical Minerals, the B.C. Mining Association, the Chief of the Upper Similkameen Indian Band, regional representatives, and leaders from the local community. The event was also recognized by Canada's Minister of Energy and Natural Resources. Based on current mineral reserves, New Ingerbelle is projected to produce approximately 750,000 tonnes of copper, 900,000 ounces of gold and 5.5 million ounces of silver over the life of mine.

Hudbay Minerals announced that the Toronto Stock Exchange has approved its notice of intention to commence a normal course issuer bid for its common shares. The NCIB will be made in accordance with the requirements of the Toronto Stock Exchange and applicable securities laws. Pursuant to the NCIB, Hudbay is authorized to acquire up to a maximum of 19,863,997 shares, representing 5% of its issued and outstanding Shares as of May 21 for cancellation over a 12-month period. The actual number of shares which may be purchased by Hudbay pursuant to the NCIB and the timing of such purchases will be determined by management of the company and remains subject to a number of factors, including market conditions, share price, available cash resources and other opportunities to invest capital for growth. There cannot be any assurance as to how many shares, if any, will ultimately be purchased pursuant to the NCIB.