Hudbay Minerals reported preliminary 2025 consolidated production of approximately 118,188 tonnes of copper and 267,934 ounces of gold, representing the 11th consecutive year of meeting copper guidance and the fifth straight year of meeting gold guidance. These results were achieved despite mandatory wildfire evacuations and weather-related interruptions that deferred production earlier in the year. Full-year zinc output reached 17,646 tonnes and silver production totaled 3,468,143 ounces, underscoring the resilience of Hudbay’s diversified metals portfolio.

In Q4 2025, Hudbay produced roughly 33,069 tonnes of copper and 84,298 ounces of gold consolidated. Peru operations led the quarter with 25,038 tonnes of copper, 32,865 ounces of gold and 731,017 ounces of silver, benefiting from high-grade material from the Pampacancha satellite deposit. Optimized mine planning accelerated Pampacancha depletion in December, pushing gold output in Peru beyond the top end of the company’s full-year guidance range for that jurisdiction.

Manitoba operations delivered 47,423 ounces of gold, 3,326 tonnes of copper, 5,703 tonnes of zinc and 214,493 ounces of silver in Q4, despite an eight-day power outage in October. Record monthly throughput at the New Britannia mill in December helped offset downtime. British Columbia delivered 4,705 tonnes of copper, 4,010 ounces of gold and 57,475 ounces of silver in Q4, with throughput constrained by unplanned maintenance on the primary SAG mill even as the secondary SAG mill feeder came online in December.

As of December 31, 2025, Hudbay held pro-forma cash and cash equivalents of approximately $992 million, following the closing of the Copper World joint venture transaction. The transaction strengthens liquidity and de-leveraging capacity, positioning the company to fund its 2026 capital program—including continued ramp-up of the secondary SAG mill in British Columbia—and pursue strategic growth opportunities in copper and gold.