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MINING INDUSTRY SINCE 1935

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Hudbay Minerals Inc.

Hudbay is a diversified mining company with operations, development properties and exploration activities across the Americas principally focused on the discovery, production, and marketing of base and precious metals. The company’s corporate headquarters is in Toronto, Canada and operations are managed through regional business units in Manitoba, Peru, and Arizona. Hudbay produces copper concentrate (containing copper, gold, and silver), zinc concentrate, molybdenum concentrate and silver/gold doré. The company owns and operates a polymetallic mine, concentrator and gold mill in Northern Manitoba, and a copper mine and concentrator in Peru. Hudbay also produced zinc metal at its Flin Flon metallurgical complex in Manitoba until June 2022 when the 777 mine was closed and the Flin Flon complex transitioned to care and maintenance. Hudbay is also working through feasibility studies and regulatory approvals for construction of a new mining operation in southern Arizona.

Since the start of the company in 1927, Hudbay has worked toward the goal of translating responsible mining into positively impacting people’s lives, local communities and broader regional economies. Today, the company continues to be guided by its experience in building strong relationships and making a valuable contribution wherever it operates.

This report provides externally verified TSM performance results for both of Hudbay’s current operating business units. The Manitoba Business Unit (MBU) operates in Snow Lake, Manitoba and the South American Business Unit (SABU) operates in the Chumbivilcas province of Peru.

Hudbay’s current performance and changes from its previous assessment are summarized as follows:

The MBU successfully completed an external audit including an evaluation of effectiveness, thereby improving its rating across the tailings management protocol to the highest level. Other areas of improvement included one indicator each among the crisis management and communications planning protocol, the biodiversity protocol, the health and safety protocol, and the water stewardship protocol. Gaps remain with respect to lessons learned to evaluate the effectiveness of the associated crisis management procedures as well as involving stakeholders in the development of engagement processes and gaining a better understanding of community impacts and benefits for the indigenous and community relationships protocol.

At the Constancia operation in Peru, strong performance across all protocols continued. Scores were maintained across four protocols, while improvements were made to the remaining three. Having now closed all gaps to achieving a minimum of level A across all indicators, the new goal is to maintain these levels of performance.

Hudbay plans to maintain a strong focus on tailings and health and safety management, to take action to support its recently released climate change initiatives, and to address the remaining identified performance gaps.

Several case studies highlighting Hudbay’s activity related to the TSM protocol subjects can be found in the annual sustainability reports which are available on the company’s website.

For more information, please visit: www.hudbayminerals.com

Self-Assessed Results

2023 TSM Results

Hudbay Minerals Inc.

Crisis Management and Communications Planning Assessment
Facility Crisis management and communications preparednessReviewTraining
HudBay Minerals Inc. – Corporate
Constancia (SABU)
Copper Mountain Mine
Manitoba Business Unit
Results as of: Jan 04, 2024
Preventing Child and Forced Labour Assessment
Facility PREVENTING FORCED LABOURPREVENTING CHILD LABOUR
Constancia (SABU)
Manitoba Business Unit
Results as of: Dec 24, 2022
Note: These requirements are assessed every three years during the external verification.
Safety and Health Assessment
Commitments and accountabilityPlanning and implementationTraining, behaviour and cultureMonitoring and reportingPerformance
Constancia (SABU)
Copper Mountain Mine
Manitoba Business Unit

AAA

AA

A

B

C

Results as of: Jan 04, 2024
Tailings Management Assessment
Tailings management policy and commitmentTailings management systemAssigned accountability and responsibilityAnnual tailings management reviewOperation, maintenance and surveillance (OMS) manual
Constancia (SABU)
Copper Mountain Mine
Manitoba Business Unit

AAA

AA

A

B

C

Results as of: Jan 04, 2024
Biodiversity Conservation Management Assessment
Commitment, accountability and communicationsConservation planning and implementationReporting
Constancia (SABU)
Copper Mountain Mine
Manitoba Business Unit

AAA

AA

A

B

C

Results as of: Jan 04, 2024
Water Stewardship Assessment
Water governanceOperational water managementWatershed-scale planningWater reporting and performance
Constancia (SABU)
Copper Mountain Mine
Manitoba Business Unit

AAA

AA

A

B

C

Results as of: Jan 04, 2024
Indigenous and Community Relationships
Community of Interest IdentificationEffective Community of Interest Engagement and DialogueEffective Indigenous Engagement and DialogueCommunity Impact and Benefit ManagementCommunity of Interest Response Mechanism
Constancia (SABU)
Copper Mountain Mine
Manitoba Business Unit

AAA

AA

A

B

C

Results as of: Jan 04, 2024
Climate Change Protocol Assessment
Corporate Climate Change ManagementFacility Climate Change ManagementFacility Performance Targets and Reporting
HudBay Minerals Inc. – Corporate
Constancia (SABU)
Copper Mountain Mine
Manitoba Business Unit

AAA

AA

A

B

C

Results as of: Jan 04, 2024
International Initiatives
Industry Sustainability Initiatives
ICMM Sustainable Development Framework
WGC Conflict Free Gold Standard
ISO 14001 - EMS Standard
Management System Standards
OHSAS 18001
UN Global Compact
International Voluntary Initiatives
Extractive Industries Transparency Initiative
Voluntary Principles on Security and Human Rights
OECD Guidelines for Multinational Enterprises
AA 1000
Reporting, Disclosure and Transparency Standards
Global Reporting Initiative
CDP
Water Disclosure Project
Carbon Pricing Leadership Coalition
IFC Social and Environmental Performance Standards
Financing Standards
Dow Jones Sustainability Index
Listed on Socially Responsible Investing Indices
Jantzi Social Index
Responsible Jewellery
Industry Sustainability Initiatives
International Cyanide Code
Kimberley Process
Results as of: Jun 26, 2019

Letters of Assurance

Hudbay Minerals Inc. | 2022 | TSM Letter of Assurance

Hudbay Minerals Inc. | 2018 | TSM Letter of Assurance

Hudbay Minerals Inc. | 2015 | TSM Letter of Assurance

Hudbay Minerals Inc. | 2012 | TSM Letter of Assurance

Hudbay Minerals Inc. | 2009 | TSM Letter of Assurance

Hudbay Minerals Inc. | 2006 | TSM Letter of Assurance





Historical TSM Results

TSM Results 2023

TSM Results 2022 (Externally Verified)

TSM Results 2021

- Before Revision (2021-12-17)

- Before Revision (2021-11-25)

TSM Results 2019

- Before Revision (2021-12-17)

TSM Results 2018 (Externally Verified)

- Before Revision (2021-12-17)

TSM Results 2017

- Before Revision (2021-12-17)

TSM Results 2016

TSM Results 2015 (Externally Verified)

TSM Results 2014

TSM Results 2013

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