Segmented information

12 Months Ended

Dec. 31, 2022

Disclosure of operating segments [abstract]

Segmented information [Text Block]

32. Segmented information

Hudbay is an integrated metals producer. When making decisions on expansions, opening or closing mines, as well as day to day operations, management evaluates the results from operating activities of the Company. Hudbay's main mining operations are located in Manitoba and Saskatchewan (Canada) and Cusco (Peru) and are included in the Manitoba segment and Peru segment, respectively. The Manitoba and Peru segments generate Hudbay's revenue. The Manitoba segment sells copper concentrate (containing copper, gold and silver), silver/gold doré, zinc concentrate (containing zinc and gold) and other products. The Peru segment consists of Hudbay's Constancia operation and sells copper concentrate and molybdenum concentrate. Hudbay's Arizona segment consists of the Copper World project located in Arizona. Corporate and other activities include the Company's exploration activities in Chile and Nevada. The exploration entities are not individually significant, as they do not meet the minimum quantitative thresholds. Corporate activities are not considered a segment and are included as a reconciliation to total consolidated results. Accounting policies for each reported segment are the same as those of the Company. Results from operating activities represents the profit earned by each segment without allocation of corporate costs. This is the measure reported to the chief operating decision-maker, Hudbay's President and Chief Executive Officer, for the purposes of resource allocation and the assessment of segment performance. Total assets and liabilities do not reflect intercompany balances, which have been eliminated on consolidation.

Year ended December 31, 2022
		Manitoba			Peru		Arizona			Corporate and other activities			Total
Revenue from external customers	$	633,290		$	828,150	$	-		$	-		$	1,461,440
Cost of sales
Mine operating costs		427,402			419,535		-			-			846,937
Depreciation and amortization		126,572			211,043		-			-			337,615
Gross profit		79,316			197,572		-			-			276,888
Selling and administrative expenses		-			-		-			33,986			33,986
Exploration expenses		10,644			13,359		8,657			1,851			34,511
Other expenses (income)		10,981			16,016		6,047			(458	)		32,586
Re-evaluation adjustment - environmental provision		(133,460	)		-		-			-			(133,460	)
Impairment - Arizona		-			-		94,956			-			94,956
Results from operating activities	$	191,151		$	168,197	$	(109,660	)	$	(35,379	)	$	214,309
Net interest expense on long term debt													67,663
Accretion on streaming arrangements													27,778
Change in fair value of financial instruments													942
Other net finance costs													22,111
Profit before tax													95,815
Tax expense													25,433
Profit for the year												$	70,382

Year ended December 31, 2021
		Manitoba			Peru		Arizona			Corporate and other activities			Total
Revenue from external customers	$	740,454		$	761,544	$	-		$	-		$	1,501,998
Cost of sales
Mine operating costs		459,399			360,183		-			-			819,582
Depreciation and amortization		163,516			194,408		-			-			357,924
Impairment - environmental provision		193,473			-		-			-			193,473
Gross (loss) profit		(75,934	)		206,953		-			-			131,019
Selling and administrative expenses		-			-		-			43,011			43,011
Exploration expenses		5,031			9,218		24,935			39			39,223
Other expenses (income)		15,960			10,491		13,399			(4,731	)		35,119
Re-evaluation adjustment - environmental provision		(4,602	)		-		-			-			(4,602	)
Results from operating activities	$	(92,323	)	$	187,244	$	(38,334	)	$	(38,319	)	$	18,268
Net interest expense on long term debt													74,748
Accretion on streaming arrangements													42,654
Change in fair value of financial instruments													54,514
Other net finance costs													49,103
Loss before tax													(202,751	)
Tax expense													41,607
Loss for the year												$	(244,358	)

December 31, 2022
		Manitoba		Peru		Arizona		Corporate and other activities		Total
Total assets	$	690,403	$	2,532,750	$	713,567	$	389,223	$	4,325,943
Total liabilities		427,107		974,184		36,131		1,316,712		2,754,134
Property, plant and equipment1		691,836		2,115,495		704,472		40,627		3,552,430

¹Included in Corporate and Other activities is $27.4 million of property, plant and equipment that is located in Nevada.

December 31, 2022
		Manitoba		Peru		Arizona		Corporate and other activities		Total
Additions to property, plant and equipment	$	161,849	$	123,288	$	63,238	$	168	$	348,543

December 31, 2021
		Manitoba		Peru		Arizona		Corporate and other activities		Total
Total assets	$	812,137	$	2,624,251	$	745,371	$	434,472	$	4,616,231
Total liabilities		655,095		1,023,186		75,782		1,385,340		3,139,403
Property, plant and equipment1		706,330		2,256,687		735,127		42,822		3,740,966

¹Included in Corporate and Other activities is $28.3 million of property, plant and equipment that is located in Nevada.

December 31, 2021
		Manitoba		Peru		Arizona		Corporate and other activities		Total
Additions to property, plant and equipment	$	224,300	$	163,604	$	25,982	$	11,875	$	425,761

 Geographical Segments

The following tables represent revenue information regarding Hudbay's geographical segments for the years ended December 31, 2022 and 2021:

		2022		2021
Revenue by customer location 1
Canada	$	593,397	$	515,967
Switzerland		251,963		166,261
China		247,880		349,143
United States		168,470		219,853
Singapore		65,750		80,668
Hong Kong		62,608		-
Philippines		34,389		4,050
Chile		33,557		10,773
United Kingdom		3,356		-
Japan		66		20,524
Peru		-		82,598
Germany		-		37,335
Other		4		14,826
	$	1,461,440	$	1,501,998

¹ Presented based on the ultimate destination of the product if known. If the eventual destination of the product sold through traders is not known then revenue is allocated to the location of the customer's business office and not the ultimate destination of the product.

During the year ended December 31, 2022, five customers accounted for approximately 26%, 11%, 8%, 5%, and 5% respectively, of total revenue during the year. Revenue from these customers has been presented in the Manitoba and Peru operating segments.

During the year ended December 31, 2021, five customers accounted for approximately 28%, 11%, 5%, 5% and 5% respectively, of total revenue during the year. Revenue from these customers has been presented in the Manitoba and Peru operating segments.