Hudbay Minerals Inc. is a Canadian mining company that produces copper, gold, silver, zinc, and molybdenum. In 2024, the company produced 137,943 tonnes of copper, 332,240 ounces of gold, 3,983,851 ounces of silver, 33,339 tonnes of zinc, and 1,323 tonnes of molybdenum. In 2024, copper sales represented 57% of revenue, gold sales represented 33% of revenue, and zinc sales represented 4% of revenue. The company's major producing operations are the Constancia mine in Cusco, Peru; the Snow Lake operations in Snow Lake, Manitoba, Canada; and the Copper Mountain mine in British Columbia, Canada. The Company’s pipeline includes the Copper World project in Arizona, United States; the Mason project in Nevada, United States, and the Llaguen project in La Libertad, Peru. It also owns Rosemont Copper, a proposed large open pit copper mine project, which currently cannot be legally developed as it faces opposition from environmental groups on issues related to waste disposal, pollution, water contamination, and habitat destruction.
History
Hudson Bay Mining and Smelting Co.
The Flin Flon greenstone belt was discovered by David Collins, a local trapper, and shown to prospector Tom Creighton in 1915. It was named after Josiah Flintabbatey Flonatin, a character in The Sunless City. The first claim was registered in 1915. In 1925, after unsuccessful attempts to develop the mine, Cornelius Vanderbilt Whitney (a member of the Whitney family of New York), along with Newmont Mining and Mining Corp of Canada, founded Hudson Bay Mining & Smelting (HBM&S), which acquired the Flin Flon property. The huge, high grade ore body required large amounts of hydro energy, was isolated, and copper production required a smelter, leading to delays in production. In June 1930, the mine, smelter, hydroelectric dam and railroad finally went into operation. In 1938, the company was listed on the New York Stock Exchange. The company supplied the United States with metals during World War II. In 1958, Hudbay opened its first mine in Snow Lake, 215 kilometres east of Flin Flon. Six years later, production began at Stall Lake Mine. In the 1960s, Anglo American plc, a South African mining company, invested in the company. In the area near Flin Flon, the company started production at Anderson Lake in 1970 and discovered the Trout Lake deposit in 1974, which began production in 1982. It opened a concentrator at Snow Lake in 1979. In 1987, it discovered the Chisel North mine, which began production in 2001. In 1992, Hudbay closed its original Flin Flon mine; however, that same year, as a result of underground exploration, Hudbay discovered a substantial orebody that became its flagship 777 mine in Flin Flon; it went into development in 1999.
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