Business
Hudbay Minerals Delivers Strong First Quarter 2025 Results Driven by Gold Production and Record Cost Performance
TORONTO, May 12, 2025 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “Company”) (TSX, NYSE: HBM) today released its first quarter 2025 financial resu
About this update from Hudbay Minerals Inc
[{"type":"text","content":" TORONTO, May 12, 2025 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “Company”) (TSX, NYSE: HBM) today released its first quarter 2025 financial results. All amounts are in U.S. dollars, unless otherwise noted. \"Our strong results in the first quarter reflect stable copper production and complementary gold production from our enhanced operating platform, which continued to deliver significant free cash flows and industry-leading margins,” said Peter Kukielski, President and Chief Executive Officer. “We are well-positioned to deliver our full year 2025 consolidated production and cost guidance with the operations delivering in line copper production, better-than-expected gold production and effective cost control in the first quarter. We continue to benefit from steady mill throughput in Peru, higher grades and mill throughput in Manitoba and ongoing optimization efforts in British Columbia. This resulted in record adjusted EBITDA and record low cash cost performance in the quarter. We made significant progress in advancing our growth strategy as we consolidated ownership at Copper Mountain to increase our exposure to a high-quality asset in a tier-1 jurisdiction. We are also now fully permitted at Copper World to increase our long-term copper production by more than 50%. We will continue to reinvest in our attractive portfolio of high-return brownfield and greenfield growth opportunities to further enhance our copper and gold exposure and unlock significant value for all our stakeholders.” Achieved Record Adjusted EBITDA Driven by Strong Gold Production, Stable Copper Production and Industry-leading Margins; 2025 Production and Cost Guidance Reaffirmed Achieved revenue of $594.9 million and record quarterly adjusted EBITDAi of $287.2 million in the first quarter of 2025. Strong financial results were driven by record low consolidated cash cost performance as all three business units expanded operating cost margins and executed on planned strategies. Consolidated copper production of 30,958 tonnes in the first quarter was in line with quarterly cadence expectations. Consolidated gold production of 73,784 ounces was better than quarterly cadence expectations driven by outperformance in Manitoba. Industry-leading cost performance continues with record low consolidated cash costi and sustaining cash costi per pound of c...