TMX, NYSE – HBM 2019 No. 22 Hudbay Will Appeal Unprecedented Rosemont Court Decision
TMX, NYSE – HBM
2019 No. 22
Hudbay Will Appeal Unprecedented Rosemont Court Decision
Toronto, Ontario, August 1, 2019 – Hudbay Minerals Inc. (“Hudbay” or the “company”) ( TSX, NYSE: HBM)
announced that late yesterday the U.S. District Court for the District of Arizona (“Court”) issued a ruling in the lawsuits
challenging the U.S. Forest Service ’s issuance of the Final Record of Decision (“FROD”) for the Rosemont project in
Arizona. The Court ruled to vacate and remand the FROD such that Rosemont cannot proceed with construction at
this time. Hudbay believes that the Court has misinterpreted federal mining laws and Forest Service regulations as
they apply to Rosemont. As such the company will be appealing the Court’s decision to the U.S. Ninth Circuit Court of
Appeals. The FROD was issued in June 2017 after a thorough process of ten years involving 17 co-operating
agencies at various levels of government, 16 hearings, over 1,000 studies, and 245 days of public comment resulting
in more than 36,000 comments.
“We are extremely disappointed with the Court’s decision . We strongly believe that the project c onforms to federal
laws and regulations that have been in place for decades .” said Peter Kukielski, Interim President and Chief
Executive Officer. “We will be appealing the decision as we evaluate next steps for the Rosemont Project.”
Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian and United States
securities legislation. Forward -looking information includes, but is not limited to, potential outcomes of the legal
challenges against Rosem ont and plans for the development of Rosemont. Forward -looking information is not, and
cannot be, a guarantee of future results or events. Forward -looking information is based on, among other things,
opinions, assumptions, estimates and analyses that, whil e considered reasonable by the company at the date the
forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and
other factors that may cause actual results and events to be materially different from those expressed or implied by
the forward-looking information.
The material factors or assumptions that Hudbay identified and were applied by the company in drawing conclusions
or making forecasts or projections set out in the forward -looking information include, but are not limited to, the timing
and possible outcome of pending litigation related to the Rosemont permits.
The risks, uncertainties, contingencies and other factors that may cause actual results to differ materially from those
expressed or implied by the forward-looking information may include, but are not limited to, risks generally associated
with the mining industry, such as economic factors (including future commodity prices, currency fluctuations, energy
prices and general cost escalation), as well as the risks discussed under the heading “Risk Factors” in Hudbay’s most
recent Annual Information Form.
TMX, NYSE – HBM
2019 No. 22
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Should one or more risk, uncertainty, contingency or other factor materialize or should any factor or assumption prove
incorrect, actu al results could vary materially from those expressed or implied in the forward -looking information.
Accordingly, you should not place undue reliance on forward -looking information. Hudbay does not assume any
obligation to update or revise any forward -looking information after the date of this news release or to explain any
material difference between subsequent actual events and any forward -looking information, except as required by
applicable law.
About Hudbay
Hudbay (TSX, NYSE: HBM) is an integrated mining company primarily producing copper concentrate (containing
copper, gold and silver), molybdenum concentrate and zinc metal. With assets in North and South America, the
company is focused on the discovery, production and marketing of base and precious metals. Directly and through its
subsidiaries, Hudbay owns three polymetallic mines, four ore concentrators and a zinc production facility in northern
Manitoba and Saskatchewan (Canada) and Cusco (Peru), and coppe r projects in Arizona and Nevada (United
States). The company’s growth strategy is focused on the exploration and development of properties it already
controls, as well as other mineral assets it may acquire that fit its strategic criteria. Hudbay’s vision is to be a
responsible, top-tier operator of long -life, low-cost mines in the Americas. Hudbay’s mission is to create sustainable
value through the acquisition, development and operation of high -quality, long-life deposits with exploration potential
in ju risdictions that support responsible mining, and to see the regions and communities in which the company
operates benefit from its presence. The company is governed by the Canada Business Corporations Act and its
shares are listed under the symbol "HBM" on the Toronto Stock Exchange, New York Stock Exchange and Bolsa de
Valores de Lima. Further information about Hudbay can be found on www.hudbay.com.
For more information, please contact:
Candace Brûlé
Director, Investor Relations
(416) 814-4387