Hudbay Minerals Inc. (NYSE:HBM) Q2 2024 Earnings Conference Call August 13, 2024 11:00 AM ET

Company Participants

Candace Brule - Vice President Investor Relations
Peter Kukielski - President & Chief Executive Officer
Eugene Lei - Chief Financial Officer
Andre Lauzon - Chief Operating Officer

Conference Call Participants

Orest Wowkodaw - Scotiabank
Ralph Profiti - Eight Capital
Lawson Winder - Bank of America Merrill Lynch
Dalton Baretto - Canaccord Genuity

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Operator

Good morning, ladies and gentlemen. Thank you for standing by. Welcome to the Hudbay Minerals, Inc. Second Quarter 2024 Results Conference Call. At this time, all participants are in listen-only mode. [Operator Instructions] I would like to remind everyone that the conference call is being recorded today, August 13, 2024 at 11:00 AM. Eastern Time.

I will now turn the conference over to Candace Brule, Vice President, Investor Relations. Please, go ahead.

Candace Brule

Thank you, operator. Good morning and welcome to Hudbay's 2024 second quarter results conference call. Hudbay's financial results were issued this morning and are available on our website at www.hudbay.com. A corresponding PowerPoint presentation is available in the Investor section of our website, and we encourage you to refer to it during this call.

Our presenter today is Peter Kukielski, Hudbay's President and Chief Executive Officer. Accompanying Peter for the Q&A portion of the call will be Eugene Lei, our Chief Financial Officer; and Andre Lauzon, our Chief Operating Officer.

Please note that comments made on today's call may contain forward-looking information and this information by its nature is subject to risks and uncertainties and as such actual results may differ materially from the views expressed today. For further information on these risks and uncertainties, please consult the company's relevant filings on SEDAR+ and EDGAR. These documents are also available on our website. As a reminder, all amounts discussed on today's call are in U.S dollars unless otherwise noted.

And now I'll pass the call over to Peter Kukielski.

Peter Kukielski

Thank you, Candace. Good morning, everyone, and thank you for joining us. In the second quarter, our operations continued to execute on plan, which has positioned us well to achieve our 2024 annual production guidance. The operations also demonstrated strong cost control, which together with our exposure to higher gold byproduct credits has allowed us to improve our 2024 consolidated cash cost guidance.

Our strong and diversified operating base continues to generate free cash flow from efficient performance in Peru and Manitoba. And in British Columbia, we continue to execute on our stabilization initiatives and plan stripping program to unlock higher copper grades. We have transformed our balance sheet and are now in the best position we have ever been in to advance our many growth initiatives, which will unlock significant upside potential in our pipeline and further enhance our copper and gold exposure.