Hudbay Minerals comments on ongoing social unrest in Peru

Hudbay Minerals (HBM) comments on ongoing social unrest in Peru. After a period of heightened social pressures over the past few months, the situation has escalated over the weekend with riots in Lima and several protests across the country. Along with other mines in the southern mining corridor, Hudbay’s Constancia mine has been impacted by local protests and illegal blockades. The safety of all personnel is the Company’s top priority, and Hudbay has taken precautions intended to ensure their safety, including a temporary demobilization of the non-essential workforce. While the Constancia mill continued to operate over the weekend, in light of the recent demonstrations near Constancia, the mill has been temporarily shut down as a safety precaution and to allow time for the authorities to address the illegal protests. Hudbay intends to utilize the downtime to perform preventative mill maintenance and potentially advance some of the planned maintenance from later this year. Hudbay will continue to collaborate with government and legal authorities to engage with the protestors to achieve a prompt resolution that will allow operations to return to normal as soon as possible. The Company believes these temporary disruptions will be resolved and will not impact its ability to meet its 2025 production and cost guidance range.