Hudbay Reaches a Mutually Agreed Settlement in Longstanding Civil Lawsuits Related to Former Guatemala Operations

TORONTO, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE: HBM) today announced that it has reached a final settlement with all plaintiffs in three civil lawsuits brought against the company regarding alleged actions that occurred in Guatemala in 2007 and 2009. This settlement concludes all outstanding legal matters related to Hudbay’s former activities in Guatemala. Hudbay was named in the civil suits because of its ownership of the Fenix nickel project, which was acquired in 2008. In one of the lawsuits, brought by 11 female plaintiffs, the allegations against the Guatemalan company that owns the project predate Hudbay’s ownership. In 2011, Hudbay divested itself of its holdings in Guatemala and has had no operations there since that time.