Hudbay is a diversified mining company primarily producing copper concentrate (containing copper, gold and silver) and zinc metal. Hudbay owns three polymetallic mines, four ore concentrators and a zinc production facility in northern Manitoba and Saskatchewan (Canada) and Chumbivilcas (Peru), and copper projects in Arizona and Nevada (United States). The Company’s growth strategy is focused on the exploration, development, operation and optimization of properties it already controls, as well as other mineral assets it may acquire that fit its strategic criteria. The Company is governed by the Canada Business Corporations Act and its shares are listed under the symbol “HBM” on the Toronto Stock Exchange, New York Stock Exchange and Bolsa de Valores de Lima.

For over 90 years, Hudbay has worked toward the goal of translating responsible mining into positively impacting people’s lives, local communities and broader regional economies. Our experience in building strong relationships and making a valuable contribution wherever we do business guides us as we expand our presence in the Americas.

When Hudbay started in 1927, our operations were based in Manitoba and our primary market was North America. Today, our company is international and our market is global.

This report provides internally assessed TSM performance results for both of our current operating business units.  The Manitoba Business Unit (MBU) is located in Flin Flon and Snow Lake, Manitoba. Our South American Business Unit (SABU) operation is located in the Chumbivilcas province of Peru.

Our current performance and changes from our previous assessment are summarized as follows:

The MBU successfully maintained its rating across the updated tailings management protocol.  Although our crisis management and communication teams have been active throughout the pandemic, lessons learned have not been used to evaluate the effectiveness of the associated crisis management procedures. For the energy use and greenhouse gas management, and biodiversity management protocols, performance changes were mixed. The assessment of these two protocols found improvements in one indicator in each along with gaps in another indicator. Health and safety management protocol performance will be impacted for the next few years due to the fatal incident that occurred in June 2021, when a contractor fell from height while working in one of our underground mines. Performance for the updated indigenous and community relationships protocol indicates opportunities for improvement related to involving stakeholders in the development of engagement processes as well as gaining a better understanding of community impacts and benefits.

At the Constancia operation in Peru, level AAA performance was maintained for the indigenous and community relationships, biodiversity management, and health and safety management protocols.  Performance was also maintained for the energy use and greenhouse gas management, and crisis management and communication protocols. Improvements in tailings management performance were achieved by completing an external audit. Strong performance for the new water stewardship protocol was observed.

Looking forward, Hudbay plans to close the gaps identified by the self-assessment process. Specifically, we plan to maintain a strong focus on tailings management, to develop a corporate roadmap with respect to climate change, and to expand upon the implementation of critical control related processes.

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

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