Farooq Hamed's questions to Hudbay Minerals Inc (HBM) leadership • Q4 2024
Question
Farooq Hamed of Raymond James asked for confirmation of the 'Made-in-America' strategy for Copper World, specifically the commitment to producing copper cathode. He also questioned the possibility of a share buyback following the recent equity issuance.
Answer
CEO Peter Kukielski affirmed the company's commitment to producing copper cathode in the U.S. as a key and attractive component of the Copper World feasibility study. Regarding buybacks, CFO Eugene Lei explained that the equity issuance was part of a broader strategy to fund projects and strengthen the balance sheet for Copper World, making a near-term buyback less likely as they prioritize reinvestment for superior returns.