Hudbay

Name

Hudbay

Legal name

Hudbay Minerals Inc.

Website

https://hudbayminerals.com

Company type

Public

Founded year

1927

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

Copper Mining

NAICS

Copper, Nickel, Lead, and Zinc Mining (212230), Gold Ore and Silver Ore Mining (21222)

SIC

Metal Mining (1000), Gold And Silver Ores (1040)

akta.pro primary industry

Copper Ore Mining (Open-Pit & Underground) (IMAKADAB)

akta.pro secondary industries

Copper Exploration & Resource Development (IMAKADAA), Copper Concentration (Crushing, Grinding, Flotation) (IMAKADAC), Copper By-Products Recovery (Molybdenum, Gold/Silver, Sulfuric Acid) (IMAKADAH)

Keywords

• Copper mining production
• Base metals extraction
• Precious metals mining
• Mineral exploration services
• Critical minerals mining

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Copper Production and Sales: Hudbay's primary revenue stream comes from mining and selling copper concentrate and cathode. Copper is produced at Constancia (Peru), Snow Lake (Manitoba), and Copper Mountain (British Columbia). Pricing follows LME benchmarks with treatment and refining charges deducted. Production is approximately 125,000 tonnes annually, with growth targets to 250,000+ tonnes by 2030.
2. Gold Production and Sales: Gold is a significant by-product revenue stream, representing 39% of gross revenue in Q1 2026. Gold is produced as doré and in concentrate from all three operations. Revenue is realized at spot gold prices.
3. Zinc, Silver and Molybdenum By-Products: Hudbay generates additional revenue from zinc concentrate, silver, and molybdenum produced as by-products at its mining operations. These metals contribute meaningful by-product credits that reduce net cash costs of copper production.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Hudbay Minerals mines and sells copper as its primary product (concentrate and cathode) from three long-life operating mines — Constancia in Peru, Snow Lake in Manitoba, and Copper Mountain in British Columbia — with gold, zinc, silver, and molybdenum recovered as by-products. The company is also advancing the Copper World and Cactus projects in Arizona to expand U.S. copper production toward 350,000+ tonnes annually. Metals are sold to smelters, refiners, and commodity trading houses at LME benchmark prices.

Product overview

Hudbay Minerals Inc. is a copper-focused critical minerals mining company with three long-life operating mines and a pipeline of copper growth projects in tier-one mining jurisdictions of Canada, Peru, and the United States. The company'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, complemented by meaningful gold production and by-product zinc, silver and molybdenum. The growth pipeline includes the Copper World project and Cactus project in Arizona (United States) following the completed Arizona Sonoran acquisition in June 2026, the Mason project in Nevada (United States), and the Llaguen project in La Libertad (Peru), along with several expansion and exploration opportunities near existing operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Copper (Primary Metal) Copper concentrate and cathode produced from all three operating mines (Constancia in Peru, Snow Lake in Manitoba, Copper Mountain in British Columbia) and planned from the Copper World and Cactus development projects. Sold to global smelters, refiners, and commodity trading houses at LME benchmark prices. Hudbay's strategic focus metal and primary revenue driver, currently produced at approximately 125,000 tonnes annually with a target of 250,000+ tonnes by 2030 and 350,000+ tonnes with full Cactus development.
• Gold (By-Product) Precious metal produced as doré and in concentrate as a significant by-product at Snow Lake (Manitoba) and Copper Mountain (British Columbia), with by-product credits also from Constancia. Represented 39% of gross revenue in Q1 2026, providing meaningful diversification and exposure to spot gold prices.
• Zinc (By-Product) Base metal produced as by-product at Hudbay's Snow Lake operations in Manitoba, particularly from Lalor mine's base metal zones. Zinc concentrate contributes meaningful by-product credits that reduce net cash costs of copper production and is exported to European smelters.
• Silver (By-Product) Precious metal produced as a by-product across all three operating mines (Constancia, Snow Lake, and Copper Mountain), with concentrated production from the New Ingerbelle expansion projected at approximately 5.5 million ounces of silver over its mine life.
• Molybdenum (By-Product) Specialty metal produced as by-product at the Constancia mine in Peru, sold to industrial buyers and contributing to by-product credits that support negative net cash costs of copper production.
• Constancia Mine Open-pit copper mining operation in Chumbivilcas, southern Peru, producing copper concentrate with gold, silver, and molybdenum as by-products. Hudbay's primary copper operation with mineral reserves of 488 million tonnes at 0.24% copper and a permitted throughput increase to 31.1 million tonnes annually. Mine life extended to 2040.
• Snow Lake Operations Gold-copper-zinc mining complex in Manitoba, Canada, comprising the Lalor mine, New Britannia gold mill, Stall base metals concentrator, the 1901 zinc-gold deposit, and several satellite deposits. Produces gold as the primary product with copper and zinc as by-products. Mine life extended to 2041 and the site is hosting Canada's first SART plant under construction with BQE Water.
• Copper Mountain Mine Open-pit copper mine in southern British Columbia, Canada, producing copper concentrate with gold and silver as by-products. Hudbay owns 100% following the April 2025 buyout of the remaining 25% interest from Mitsubishi Materials. Mineral reserves total 345 million tonnes at 0.26% copper and 0.12 g/t gold, supporting mine life to 2045; the New Ingerbelle expansion will access higher-grade mineralization.
• Copper World Project Major copper development project in Pima County, Arizona, consisting of four open-pit copper mines, in which Mitsubishi Corporation holds a 30% joint-venture interest (with Hudbay at 70%). Definitive feasibility study on track for mid-2026 and sanctioning decision expected in 2026, with construction financed in part by $52 million of Arizona Industrial Development Authority Solid Waste Disposal Revenue Bonds. Targets production of more than 85,000 tonnes of copper annually.
• Cactus Project Copper development project in Arizona acquired through Hudbay's June 2026 all-stock acquisition of Arizona Sonoran Copper Company (approximately US$1.48 billion). Open-pit heap leach-SXEW operation expected to produce approximately 103,000 tonnes of copper cathodes annually over the first 10 years. Part of the combined Arizona copper district with the Copper World project.

Quantifiable outcome

• Achieved record quarterly revenue of $757.3 million and adjusted EBITDA of $421.9 million in Q1 2026
• +3 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered flagship, minor and core.

• Arizona Sonoran Copper CompanyflagshipStrategic or Co-development Partner · 24 June 2026Hudbay completed acquisition of Arizona Sonoran Copper Company in June 2026 through a court-approved plan of arrangement. Arizona Sonoran is now a wholly-owned subsidiary, with former shareholders receiving 0.242 Hudbay shares per ASCU share. The acquisition gives Hudbay 100% ownership of the Cactus copper project in Arizona.
• Canadian Digital Core Library ConsortiumminorStrategic or Co-development Partner · 2 March 2026Hudbay signed a non-binding Declaration of Intent with the Government of Canada, Creative Destruction Lab, Laurentian University, and major mining companies (Agnico Eagle, Anglo American, BHP, Teck, Vale) to explore digitizing and sharing drill core data for mineral exploration, backed by up to $40 million in funding from Natural Resources Canada.
• Arctic Gateway GroupcoreStrategic or Co-development Partner · 1 January 2026Arctic Gateway Group operates the Hudson Bay Railway connecting to the Port of Churchill. Hudbay ships zinc concentrate from Snow Lake, Manitoba to the Port of Churchill for export to European markets, marking the third consecutive year of such shipments.

Scale indicators9 records

Recent moves9 records

Expansion highlights6 records

Market position

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/hudbay-minerals-inc.

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries4 records

Funding overview

Funding rounds17 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hudbay