Culture Initiative Aims to Support Future Success
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2022 Sustainability Performance
By managing the social, environmental and economic risks, impacts and opportunities generated by our activities, we contribute to Hudbay’s short-term and long-term success. Our commitment to our purpose and values defines our culture and is the foundation for fostering mutually rewarding relationships with our stakeholders and building a sustainable company.
Our People
Hudbay’s greatest strength is the skilled, high-performance workforce that is committed to our success. We strive to provide a safe, healthy and rewarding workplace and build a values-based culture where everyone has the opportunity to grow and thrive.
13%
Indigenous employment in Manitoba
19%
overall female employment
Environment
Hudbay acknowledges the impact of our mining operations on the environment, and we are committed to implementing sustainable practices when exploring, developing, operating and closing our mines. We also understand our role in being part of the solution to addressing global issues such as climate change.
69%
of our indirect energy consumption is from renewable sources
78%
of total water used was recycled
2022 Targets and Achievements
| Target | Achievement | Details |
|---|---|---|
|
Health and Safety
|
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| Match or improve on our current three-year average lost time injury severity of 34.1 | Achieved | Further explanation about our performance is provided in the Our People section. |
| Match or improve on our three-year total recordable injury frequency average of 1.4 (based on ICMM classification criteria) | Achieved | Further explanation about our performance is provided in the Our People section. |
|
Community
|
||
| Avoid operational shutdowns at our Peru operations due to community/political activity | Achieved | Operations continued notwithstanding roadblocks throughout Peru. More information is provided under Social Impact > Peru Community. |
| Complete exploration agreements to enable land access at regional deposits near our Peru operations | Achieved | More information is provided in the Committed to Community feature story. |
|
Environment
|
||
| Adopt Scope 1 and Scope 2 emissions targets intended to achieve a 50% GHG reduction by 2030 and disclose intention to be net zero by 2050 | Achieved | More information is provided in the Committed to Net Zero feature story. |
| Design Copper World project in Arizona in compliance with 2030 and 2050 GHG objectives | Achieved | Copper World PEA contemplates significant carbon emissions reduction. |
|
Governance
|
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| Complete comprehensive review/update of global anti-bribery and anti-corruption compliance program | Achieved | More information is provided under Our Company > Business Conduct. |
|
Financial Excellence/Growth
|
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| Operating cash flow: meet budgeted target | Not achieved | While production growth was achieved in 2022, we faced higher operating costs from global inflationary pressures, which reduced operating profit margins and resulted in lower operating cash flow. |
| Production: all metals within public guidance ranges | Partially achieved | Met consolidated production guidance for all metals; copper and gold production was at the low end of the range, resulting in lower overall copper-equivalent production. |
2023 Targets
Health and Safety
- Match or improve on our three-year total recordable injury frequency average of 1.35 (based on ICMM classification criteria)
Governance
- Roll out new High Potential Employee Program
- Execute action plans developed in 2022 based on the 2021 culture survey
- Design and complete materials for the Manitoba supervisory training program
Financial Excellence/Growth
- Production – all metals within public guidance ranges
- Operating cash flow – meet budgeted target
- MBU to hoist 3% more ore up the shaft in 2023 over 2022
Community
- Avoid operational shutdowns at our Peru operations due to community/political activity
- Returning Manitoba TSM Indigenous and Community Relationships Protocol performance to A or above for all of the indicators
Environment
- Conduct active tracking and monitoring at each business unit (with reporting into corporate) involving identification of reduction opportunity areas, with status of development, economics and partner/supplier engagement
- Identify and disclose in Copper World pre- feasibility study (or on a stand-alone basis) opportunities that would allow development of Copper World within our current 50% reduction target
- Complete an internal assessment for Copper World project against the TSM Biodiversity and Water Stewardship Protocols