6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

For the month of March 2012

Commission File Number: 001-34244

HUDBAY MINERALS INC.

(Translation of registrant’s name into English)

25 York Street, Suite 800

Toronto, Ontario

M5J 2V5, Canada

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  o    Form 40-F  x

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  o

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes  o    No  x

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-

EXPLANATORY NOTE

On March 8, 2012, HudBay Minerals Inc. (“Hudbay”) filed on the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com the following documents:  (i) a press release announcing Hudbay’s investment in Panoro Minerals Ltd., and (ii) an early warning report announcing such investment.

A copy of each of the filings is attached to this Form 6-K and incorporated herein by reference, as follows:

·Exhibit 99.1 — Press release announcing Hudbay’s investment in Panoro Minerals Ltd.; and

·Exhibit 99.2 — Early warning report announcing Hudbay’s investment in Panoro Minerals Ltd.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	HUDBAY MINERALS INC. (registrant)
Date: March 9, 2012	By:	/s/ Patrick Donnelly
	Name:	Patrick Donnelly
	Title:	Vice President, Legal and Corporate Secretary

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EXHIBIT INDEX

The following exhibits are furnished as part of this Form 6-K:

Exhibit	Description
99.1	Press release announcing Hudbay’s investment in Panoro Minerals Ltd.
99.2	Early warning report announcing Hudbay’s investment in Panoro Minerals Ltd.

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EX-99.1

Exhibit 99.1

25 York Street, Suite 800 Toronto, Ontario Canada M5J2V5 tel 416 362-8181 fax 416 362-7844 hudbayminerals.com	TMX, NYSE – HBM
	2012 No. 07
	News Release

Hudbay Makes Investment in Panoro Minerals

Toronto, Ontario, March 8, 2012 — HudBay Minerals Inc. (“Hudbay”) (TSX:HBM) (NYSE:HBM) today announced that it has acquired 3,900,000 units (“Units”) of Panoro Minerals Ltd. (“Panoro”) (TSX.V:PML) at a purchase price of C$0.60 per Unit for total consideration of C$2,340,000. Each Unit consists of one common share of Panoro (a “Common Share”) and one-half of one Common Share purchase warrant (a “Warrant”). Each whole Warrant will entitle Hudbay to acquire one Common Share at an exercise price of C$0.85 per Common Share for a period of 18 months. The Units were acquired on a private placement basis and are subject to customary resale restrictions.

As a result of the investment, Hudbay currently owns and has control over 12,780,000 Common Shares (approximately 7.8% of the issued and outstanding Common Shares) and 6,390,000 Common Share purchase warrants which, together with Hudbay’s Common Shares, represent approximately 11.2% of the issued and outstanding Common Shares on a partially-diluted basis.

The acquisition of the Common Shares and Warrants is being made to assist with the exploration and development of Panoro’s properties located in the south-eastern region of Peru.

About Hudbay

Hudbay (TSX, NYSE: HBM) is a Canadian integrated mining company with assets in North and South America principally focused on the discovery, production and marketing of base and precious metals. Hudbay’s objective is to maximize shareholder value through efficient operations, organic growth and accretive acquisitions, while maintaining its financial strength. A member of the S&P/TSX Composite Index and the S&P/TSX Global Mining Index, Hudbay is committed to high standards of corporate governance and sustainability. Further information about Hudbay can be found on www.hudbayminerals.com.

Forward-Looking Information

Certain of the statements made and information contained herein may contain forward-looking information within the meaning of applicable Canadian securities laws.  Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of Hudbay and there is no assurance they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information.

Hudbay undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of Hudbay, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

For further information, please contact:

John Vincic
Vice President, Investor Relations and Corporate Communications
(416) 362-0615
john.vincic@hudbayminerals.com

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EX-99.2

Exhibit 99.2

REPORT UNDER NATIONAL INSTRUMENT 62-103

EARLY WARNING REPORT

The following information is filed pursuant to the provisions listed above under the applicable securities legislation:

1.The name and address of the offeror:

HudBay Minerals Inc.
25 York Street, Suite 800
Toronto, Ontario M5J 2V5

2.The designation and number or principal amount of securities and the offeror’s securityholding percentage in the class of securities of which the offeror acquired ownership or control in the transaction or occurrence giving rise to the reporting obligation, and whether it was ownership or control that was acquired in those circumstances.

On March 8, 2012, HudBay Minerals Inc. (“Hudbay”) announced that it had acquired ownership and control of 3,900,000 units (the “Units”) of Panoro Minerals Ltd. (“Panoro”) on a private placement basis. Each Unit consists of one common share of Panoro (a “Common Share”) and one-half of one Common Share purchase warrant (a “Warrant”). Each whole Warrant will entitle Hudbay to acquire one Common Share at an exercise price of C$0.85 per Common Share for a period of 18 months. The Common Shares acquired by Hudbay represent approximately 2.4% of the issued and outstanding Common Shares and, together with the acquired Warrants, represent approximately 3.5% of the issued and outstanding Common Shares on a partially-diluted basis.

3.The designation and number or principal amount of securities and the offeror’s securityholder percentage in the class of securities immediately after the transaction or occurrence giving rise to the reporting obligation.

Immediately after the transaction, Hudbay owned and had control over 12,780,000 Common Shares (approximately 7.8% of the issued and outstanding Common Shares) and 6,390,000 Common Share purchase warrants which, together with Hudbay’s Common Shares, represent approximately 11.2% of the issued and outstanding Common Shares on a partially-diluted basis.

4.The designation and number or principal amount of securities and the percentage of outstanding securities of the class of securities referred to in the above paragraph over which:

(i)The offeror, either alone or together with joint actors, has ownership and control.

See item 3 above.

(ii)The offeror, either alone or together with joint actors, has ownership but control is held by other persons or companies other than the offeror or any joint actor.

N/A

(iii)The offeror, either alone or together with joint actors, has exclusive or shared control but does not have ownership.

N/A

5.The name of the market in which the transaction or occurrence that gave rise to the reporting obligation took place.

N/A

6.The value, in Canadian dollars, of any consideration offered per security if the offeror acquired ownership of a security in the transaction or occurrence giving rise to the reporting obligation.

Hudbay acquired the Units for a purchase price of C$0.60 per Unit for total consideration of C$2,340,000.

7.The purpose of the offeror and any joint actors in effecting the transaction or occurrence that gave rise to the reporting obligation, including any future intention to acquire ownership of, or control over, additional securities of the reporting issuer.

The acquisition of the Units is being made to assist with the exploration and development of Panoro’s properties located in the south-eastern region of Peru. Hudbay will evaluate its investment in Panoro and may, among other things, increase or decrease its ownership and possibly pursue strategic initiatives with or in respect of Panoro, depending on factors including market conditions, the business and prospects of Panoro and other alternatives available to Hudbay from time to time.

8.The general nature and the material terms of any agreement, other than lending arrangements, with respect to securities of the reporting issuer entered into by the offeror, or any joint actor, and the issuer of the securities or any other entity in connection with the transaction or occurrence giving rise to the reporting obligation, including agreements with respect to the acquisition, holding, disposition or voting of any of the securities.

Hudbay previously acquired 8,880,000 Common Shares and 4,440,000 Common Share purchase warrants pursuant to a subscription agreement with Panoro dated June 30, 2011 (the “Initial Subscription Agreement”). Under the terms of the Initial Subscription Agreement, Hudbay was granted a pre-emptive right to participate in any future equity financings undertaken by Panoro following the

closing. This pre-emptive right applies provided that Hudbay holds at least five percent of the issued and outstanding shares, and it permits Hudbay to maintain the same equity ownership percentage of Panoro (on a non-diluted basis) after the completion of the equity financing as existed immediately prior to completion of the equity financing.

9.The names of any joint actors in connection with the disclosure required by Appendix E to National Instrument 62-103.

N/A

10.In the case of a transaction or occurrence that did not take place on a stock exchange or other market that represents a published market for the securities, including an issuance from treasury, the nature and value of the consideration paid by the offeror.

See item 6 above.

11.If applicable, a description of any change in any material fact set out in a previous report by the entity under the early warning requirements or Part 4 of National Instrument 62-103 in respect of the reporting issuer’s securities.

N/A

12.If applicable, a description of the exemption from securities legislation being relied on by the offeror and the facts supporting that reliance.

The Units were issued in reliance on the $150,000 “minimum amount investment” exemption from the prospectus requirements of applicable securities laws pursuant to National Instrument 45-106 (“NI 45-106”).

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DATED this 8th day of March, 2012.
	HUDBAY MINERALS INC.
	Per:	“Patrick Donnelly”
		Name:	Patrick Donnelly
		Title:	Vice President, Legal and Corporate Secretary