Hudbay 2025 Production Guidance Reaffirmed Despite Disruptions

Hudbay Minerals

Hudbay 2025 production guidance remains intact despite operational setbacks. The company reaffirmed all-metal targets for 2025. Strong Peru output and improving Canada assets support the stance. Therefore, Hudbay 2025 production guidance signals confidence in second-half recovery. Total Q2 copper reached 29,956t, up 4.6% year on year. As a result, Hudbay 2025 production guidance looks achievable within current ranges.

Operational Disruptions and Offsets

Wildfires curtailed Manitoba operations during Q2 and again on 10 July. Copper fell 39% to 1,612t, while zinc dropped 36% to 5,130t. However, Hudbay expects Manitoba to resume in late August. Peru offset weakness with 21,710t of copper, up 13% year over year. Molybdenum output reached 375t, up 1.6% from last year. British Columbia copper was 6,634t, down 1.3% year over year. Yet Copper Mountain projects higher H2 output after upgrades. Hudbay now owns 100% of Copper Mountain after the April 30 deal.

The Metalnomist Commentary

Hudbay’s diversified footprint cushioned Manitoba’s wildfire shock. Execution at Copper Mountain and a stable Peru will drive H2. Watch weather risks, protest impacts, and mill improvements for guidance delivery.