Pierre Vaillancourt's questions to Hudbay Minerals Inc (HBM) leadership • Q4 2024
Question
Pierre Vaillancourt from Haywood Securities inquired about the elevated tax expense in the quarter and its future implications. He also asked about the long-term production profile for the Constancia mine after Pampacancha's depletion, considering the planned mill expansion.
Answer
CFO Eugene Lei explained that the higher tax expense was driven by strong production, high gold prices, and the exhaustion of tax pools in Peru, and it is expected to remain elevated in 2025 before normalizing. COO Andre Lauzon stated that more clarity on the future production profile will be provided in the March reserve update but highlighted ongoing improvements like pebble rejection and future pebble crushers to enhance throughput.