Hudbay Announces Election of Directors

Rhea-AI Summary

Hudbay Minerals announced the election of its Board of Directors at the Annual and Special Meeting of Shareholders held on May 21, 2024. All ten nominees were elected with a high percentage of votes in favor, demonstrating strong shareholder support. Hudbay’s operations span Canada, Peru, and the United States, focusing primarily on copper production, supplemented by gold. Key assets include the Constancia mine in Peru and the Snow Lake operations in Canada. The company is also advancing several growth projects, including Copper World in Arizona and the Mason project in Nevada. Hudbay aims to create sustainable value through efficient operations and strong community relations.

Positive

• All ten director nominees were elected, indicating strong shareholder support.
• High percentage of votes for each director, with most above 99%.
• Hudbay operates in mining-friendly jurisdictions like Canada, Peru, and the USA.
• Company’s growth pipeline includes significant projects like Copper World and Mason project.
• Focus on sustainability and community relations aligns with modern ESG expectations.

Negative

• Paula C. Rogers received the lowest percentage of votes (93.83%), indicating some shareholder dissent.
• Heavy reliance on copper may pose risks if copper prices decline.
• Significant portion of operations located in Peru could pose geopolitical risks.

TORONTO, May 21, 2024 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE: HBM) today announced that each of the ten individuals nominated for election as a director of Hudbay at the company’s Annual and Special Meeting of Shareholders held on May 21, 2024 was elected.

The detailed voting results are set out below:

Director	Number of Votes FOR	Number of Votes AGAINST	Percentage of Votes FOR
Carol T. Banducci	219,507,809	582,032	99.74%
Igor A. Gonzales	218,410,247	1,679,594	99.24%
Jeane L. Hull	218,904,619	1,185,221	99.46%
Carin S. Knickel	218,517,155	1,572,687	99.29%
Peter Kukielski	219,646,933	442,909	99.80%
George E. Lafond	219,406,938	682,904	99.69%
Stephen A. Lang	217,351,045	2,738,797	98.76%
Colin Osborne	219,713,395	376,447	99.83%
Paula C. Rogers	206,505,234	13,584,608	93.83%
David S. Smith	218,659,110	1,430,731	99.35%

About Hudbay

Hudbay (TSX, NYSE: HBM) is a copper-focused mining company with three long-life operations and a world-class pipeline of copper growth projects in tier-one mining-friendly jurisdictions of Canada, Peru and the United States.

Hudbay’s operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). Copper is the primary metal produced by the company, which is complemented by meaningful gold production. Hudbay’s growth pipeline includes the Copper World project in Arizona (United States), the Mason project in Nevada (United States), the Llaguen project in La Libertad (Peru) and several expansion and exploration opportunities near its existing operations.

The value Hudbay creates and the impact it has is embodied in its purpose statement: “We care about our people, our communities and our planet. Hudbay provides the metals the world needs. We work sustainably, transform lives and create better futures for communities.” Hudbay’s mission is to create sustainable value and strong returns by leveraging its core strengths in community relations, focused exploration, mine development and efficient operations.

For further information, please contact:

Candace Brûlé
Vice President, Investor Relations

(416) 814-4387
investor.relations@hudbay.com

FAQ

What was the outcome of the Hudbay Directors' election on May 21, 2024?

All ten nominated directors were elected with a high percentage of votes in favor.

Which Hudbay director received the highest percentage of votes in 2024?

Colin Osborne received the highest percentage of votes, with 99.83% in favor.

What is Hudbay Minerals' stock symbol?

Hudbay Minerals is listed on the TSX and NYSE under the stock symbol HBM.

Which Hudbay director received the lowest percentage of votes?

Paula C. Rogers received the lowest percentage of votes, with 93.83% in favor.

What are some key projects in Hudbay's growth pipeline?

Key projects include the Copper World project in Arizona and the Mason project in Nevada.

Where are Hudbay’s key operations located?

Hudbay’s key operations are in Canada, Peru, and the United States.