Original Submission 
Amended Report(optional field)
| Extractive Sector Transparency Measures Act - Annual Report | |
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| Reporting Entity Name | Hudbay Minerals Inc | ||||||
| Reporting Year | From | 2024-01-01 | To: | 2024-12-31 | Date submitted | 2025-05-21 | |
| Reporting Entity ESTMA Identification Number | E999414 | Original Submission Amended Report |
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| Other Subsidiaries Included (optional field) |
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| For Consolidated Reports - Subsidiary Reporting Entities Included in Report: | Copper Mountain Mine (BC) LTD. (E037058) | ||||||
| Not Substituted | |||||||
| Attestation by Reporting Entity | |||||||
| In accordance with the requirements of the ESTMA, and in particular section 9 thereof, I attest I have reviewed the information contained in the ESTMA report for the entity(ies) listed above. Based on my knowledge, and having exercised reasonable diligence, the information in the ESTMA report is true, accurate and complete in all material respects for the purposes of the Act, for the reporting year listed above. | |||||||
| Full Name of Director or Officer of Reporting Entity | Eugene Lei | Date | 2025-05-21 | ||||
| Position Title | CFO | ||||||
| Extractive Sector Transparency Measures Act - Annual Report | |||||||||||
| Reporting Year | From: | 2024-01-01 | To: | 2024-12-31 | |||||||
| Reporting Entity Name | Hudbay Minerals Inc | Currency of the Report | USD | ||||||||
| Reporting Entity ESTMA Identification Number | E999414 | ||||||||||
| Subsidiary Reporting Entities (if necessary) | Copper Mountain Mine (BC) LTD. (E037058) | ||||||||||
| Payments by Payee | |||||||||||
| Country | Payee Name1 | Departments, Agency, etc — within Payee that Received Payments2 |
Taxes | Royalties | Fees | Production Entitlements |
Bonuses | Dividends | Infrastructure Improvement Payments |
Total Amount paid to Payee |
Notes3,4 |
| Canada | Provincial Government of Manitoba | 1,130,000 | 1,080,000 | 2,210,000 | (a), (d), (e), (f) | ||||||
| Canada | Town of Snow Lake | 1,970,000 | 1,970,000 | (a), (d), (e) | |||||||
| Canada | City of Flin Flon | 3,050,000 | 3,050,000 | (a), (d), (e) | |||||||
| Canada | Town of Creighton | 980,000 | 980,000 | (a), (d), (e) | |||||||
| Canada | Provincial Government of British Columbia | 860,000 | 390,000 |
1,250,000 |
(a), (d), (e), (i) | ||||||
| Canada | Town of Princeton | 440,000 | 440,000 | (a), (d), (e), (i) | |||||||
| Canada | Lower Similkameen Indian Band | 220,000 | 220,000 | (d), (e) | |||||||
| Canada | Upper Similkameen Indian Band | 220,000 | 220,000 | (d), (e) | |||||||
| Peru | Government of Peru | 106,770,000 | 23,880,000 | 2,180,000 | 230,000 | 133,060,000 | (a), (b), (c), (d), (e) | ||||
| Peru | Municipal District of Velille | 1,280,000 | 1,280,000 | (b), (c), (d), (e) | |||||||
| Peru | Municipal District of Livitaca | 2,030,000 | 2,030,000 | (b), (c), (d), (e) | |||||||
| Peru | Municipal District of Colequemarca | 640,000 | 640,000 | (b), (c), (d), (e) | |||||||
| Peru | Municipal District of Chamaca | 90,000 | 90,000 | (b), (c), (d), (e) | |||||||
| Peru | Municipal District of Llusco | 520,000 | 520,000 | (b), (c), (d), (e) | |||||||
| Peru | Municipal District of Coporaque | 180,000 | 180,000 | (b), (c), (d), (e) | |||||||
| Peru | Municipal District of Capacmarca | 570,000 | 570,000 | (b), (c), (d), (e) | |||||||
| Peru | Municipal District of Condoroma | 110,000 | 110,000 | (b), (c), (d), (e) | |||||||
| Peru | Municipal District of Santo Tomas | 210,000 | 210,000 | (b), (c), (d), (e) | |||||||
| Peru | Cusco Regional Government | 5,310,000 | 5,310,000 | (b), (c), (d), (e) | |||||||
| United States of America | Pima County | Pima County Treasurer | 120,000 | 120,000 | (a) (d) | ||||||
| United States of America | Governement of the United States of America | 770,000 | 770,000 | (g), (d) | |||||||
| United States of America | Arizona State Government | 690,000 | 690,000 | (h), (d) | |||||||
| Additional Notes: | HBM Management Footnotes (a) Taxes for the purposes of ESTMA do not align with the definition of "income taxes" under IFRS, as a result the numbers from the ESTMA reporting cannot be tied directly to our cash flow statement as disclosed in our audited consolidated financial statements. (b) Infrastructure improvement payments captures any payment or payment in-kind that are reportable under ESTMA and improve the operation of society that are not captured by the other payment categories. (c) In-kind values have been reported using cost. If the cost is not determinable, the in-kind payment has been reported at the fair market value using an arm's length commercial value. In-kind infrastructure improvement payments in the amount of $0 were reported. (d) Amounts are reported in U.S. dollars consistent with the entity's method of reporting transactions in foreign currencies in its financial statements. (e) FX (Sol or CAD to USD) rate used is the financial year end FX rate provided from the Bank of Canada 1 Sol = 0.2674 USD / 1 USD = 3.7403 Sol, and 1 CAD= 0.6950 USD / 1 USD = 1.4389 CAD. (f) Minister of Finance Manitoba and Manitoba Mines Branch. (g) Bureau of Land Management and United States Department of the Interior. (h) Arizona Department of Environmental Quality and Arizona Department of Water Resources. (i) Ministry of Finance and Ministry of Environment and Climate Change. |
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1 Enter the proper name of the Payee receiving the money (i.e. the municipality of x, the province of y, national government of z).
2 Optional field.
3 When payments are made in-kind, the notes field must highlight which payment includes in-kind contributions and the method for calculating the value of the payment.
4 Any payments made in currencies other than the report currency must be identified. The Reporting Entity may use the Additional notes row or the Notes column to identify any payments that are converted, along with the exchange rate and primary method used for currency conversions.
| Extractive Sector Transparency Measures Act - Annual Report | |||||||||||
| Reporting Year | From: | 2024-01-01 | To: | 2024-12-31 | |||||||
| Reporting Entity Name | Hudbay Minerals Inc | Currency of the Report | USD | ||||||||
| Reporting Entity ESTMA Identification Number | E999414 | ||||||||||
| Subsidiary Reporting Entities (if necessary) | Copper Mountain Mine (BC) LTD. (E037058) | ||||||||||
| Payments by Project | ||||||||||
| Country | Project Name1 | Taxes | Royalties | Fees | Production Entitlements | Bonuses | Dividends | Infrastructure Improvement Payments |
Total Amount paid by Project |
Notes2,3 |
| Canada | Manitoba | 7,130,000 | 1,080,000 | 8,210,000 | (a), (d), (e) | |||||
| Canada | British Columbia | 1,300,000 | 830,000 | 2,130,000 | (a), (d), (e) | |||||
| Peru | Constancia | 106,770,000 | 23,880,000 | 2,180,000 | 11,170,000 | 144,000,000 | (a), (c), (d), (e) | |||
| United States of America | Copper World | 120,000 | 1,460,000 | 1,580,000 | (a), (d) | |||||
| Additional Notes: | HBM Management Footnotes (a) Taxes for the purposes of ESTMA do not align with the definition of "income taxes" under IFRS, as a result the numbers from the ESTMA reporting cannot be tied directly to our cash flow statement as disclosed in our audited consolidated financial statements. (b) Infrastructure improvement payments captures any payment or payment in-kind that are reportable under ESTMA and improve the operation of society that are not captured by the other payment categories. (c) In-kind values have been reported using cost. If the cost is not determinable, the in-kind payment has been reported at the fair market value using an arm's length commercial value. In-kind infrastructure improvement payments in the amount of $0 were reported. (d) Amounts are reported in U.S. dollars consistent with the entity's metod of reporting transactions in foreign currencies in its financial statements. (e) FX (Sol or CAD to USD) rate used is the financial year end FX rate provided from the Bank of Canada 1 Sol = 0.2674 USD / 1 USD = 3.7403 Sol, and 1 CAD= 0.6950 USD / 1 USD = 1.4389 CAD. |
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1 Enter the project that the payment is attributed to. Some payments may not be attributable to a specific project, and do not need to be disclosed in the "Payments by Project" table.
2 When payments are made in-kind, the notes field must highlight which payment includes in-kind contributions and the method for calculating the value of the payment.
3 Any payments made in currencies other than the report currency must be identified. The Reporting Entity may use the "Additional Notes" row or the "Notes" column to identify any payments that are converted, along with the exchange rate and primary method used for currency conversions.