Clear, Disciplined Growth Strategy
Hudbay’s plans for future growth are guided by a consistent and successful set of criteria that illuminates our path forward. The growth opportunities we pursue must meet strategic criteria that define a truly valuable copper asset: low-cost, long-life and meaningful scale potential, situated in mining-friendly jurisdictions and capable of delivering per share appreciation. Hudbay implemented a holistic capital allocation framework to maintain strong financial discipline, deliver growth initiatives and maximize long-term risk-adjusted returns.
With our Copper World project, the final investment decision to proceed with the development is fully aligned with Hudbay’s capital allocation framework. In 2022, the company developed the 3-P plan, three prerequisites (“3-P”) plan for Copper World that included a prudent financial strategy and balance sheet targets that would need to be achieved prior to a final investment decision. The Company successfully completed all of the key elements of the 3-P plan with the completion of the joint venture transaction with Mitsubishi, the enhanced precious metals stream agreement with Wheaton and the achievement of stated balance sheet targets well ahead of schedule.
Hudbay’s focus is on copper, and our foundation is built on financial strength, driven by efficient operations, exploration, project development and sustainability excellence.