Hudbay Minerals lowers FY25 CapEx view $20M to $35M

Reaffirmed FY25 consolidated production guidance for copper and gold, despite the temporary operational interruptions and production deferrals. Full-year consolidated copper and gold production is now expected to be near the low end of the guidance ranges. The company commented, “Hudbay expects total capital expenditures to be $35M lower than 2025 guidance levels, primarily due to the deferral of certain expenditures to 2026. This includes $15M lower sustaining capital expenditures primarily due to temporary operational interruptions in Manitoba and Peru. Growth capital expenditures are expected to be $20 million lower primarily due to spending deferrals into 2026.” The company added, “Further improved FY25 consolidated cash costi guidance range to 15c-35c per pound, an additional improvement from the previously updated guidance range of 65c-85c per pound, as year-to-date results are trending well below the low end of the cost ranges. Also improved full year 2025 consolidated sustaining cash cost guidance range to $1.85-$2.25 per pound copper from the original guidance range of $2.25-$2.65 per pound as a result of increased exposure to gold by-product credits and continued strong operating cost control.”