SC 13G


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No One)

HUDBAY MINERALS INC.
............................................................
(Name of Issuer)

COMMON SHARES
............................................................
(Title of Class of Securities)

443628102
.............................................................
(CUSIP Number)

December 31, 2014
.............................................................
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

[x] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions
of the Act(however, see the Notes).




CUSIP No. 443628102
(1)Names of reporting persons. I.R.S. Identification Nos. of above persons
(entities only)
     LETKO, BROSSEAU & ASS. INC.
(2) Check the appropriate box if a member of a group (see instructions)
(a)
(b)
(3) SEC use only
(4) Citizenship or place of organization     CANADA
Number of shares beneficially owned by each reporting person with:
(5)Sole voting power   	20,215,505

(6)Shared voting power

(7)Sole dispositive power	20,215,505

(8)Shared dispositive power
(9)Aggregate amount beneficially owned by each reporting person

	20,215,505
(10)Check if the aggregate amount in Row (9) excludes certain shares
(see instructions)
(11)Percent of class represented by amount in Row 9

		8.7%
(12)Type of reporting person (see instructions)

	FI








Item 1.
Item 1(a) Name of issuer: HUDBAY MINERALS INC.

Item 1(b) Address of issuer's principal executive offices:
	25 York Street
	Suite 800
	Toronto, Ontario  M5J 2V5
	Canada
Item 2.
2(a) Name of person filing:
	Letko, Brosseau & Ass. Inc.
2(b) Address or principal business office or, if none, residence:
	1800 Mc Gill College Av.
	Suite 2510
	Montreal, QC
	H3A 3J6
	Canada

2(c) Citizenship:

	 Canada

2(d) Title of class of securities:

	Common Shares

2(e) CUSIP No.:
	443628102

Item 3.

If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or (c),
check whether the person filing is a:
a. [ ] Broker or dealer registered under Section 15 of the Act.
b. [ ] Bank as defined in Section 3(a)(6) of the Act.
c. [ ] Insurance company as defined in Section 3(a)(19) of the Act.
d. [ ] Investment company registered under Section 8 of the Investment
Company Act of 1940.
e. [ ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
f. [ ] An employee benefit plan or endowment fund in accordance with Rule
13d-1(b)(1)(ii)(F);
g. [ ] A parent holding company or control person in accordance with Rule
13d-1(b)(1)(ii)(G);
h. [ ] A savings associations as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813);
i. [ ] A church plan that is excluded from the definition of an investment
company under section 3(c)(14) of the Investment Company Act of 1940;
j. [x] A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J);
k. [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(K).




Item 4. Ownership

Provide the following information regarding the aggregate number and percentage
of the class of securities of the issuer identified in Item 1.
a. Amount beneficially owned: 20,215,505
b. Percent of class: 8.7%
c. Number of shares as to which such person has:
i. Sole power to vote or to direct the vote:  20,215,505
ii. Shared power to vote or to direct the vote
iii. Sole power to dispose or to direct the disposition of: 20,215,505
iv. Shared power to dispose or to direct the disposition of



Item 5.

Ownership of 5 Percent or Less of a Class. If this statement is being filed
to report the fact that as of the date hereof the reporting person has ceased
to be the beneficial owner of more than 5 percent of the class of securities,
check the following [ ].



Item 6. Ownership of More than 5 Percent on Behalf of Another Person

Clients of Letko, Brosseau & Ass. Inc. have the right to receive or the
power to direct the receipt of dividends from, or the proceeds from
sale of, the Common Stock reported as beneficially owned by
Letko, Brosseau & Ass. Inc.  No clients of Letko, Brosseau & Ass. Inc.
beneficially owns more than five percent of Issuer's Common Stock.



Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company or Control Person.

Not Applicable



Item 8. Identification and Classification of Members of the Group

Not Applicable



Item 9. Notice of Dissolution of Group

Not Applicable




Item 10. Certification
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired and are held in the
ordinary course of business and were not acquired and are not held
for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired
and are not held in connection with or as a participant in any
transaction having that purpose or effect.




Signature

After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true,
complete and correct.


Dated : February 5, 2015



Signature
Name/Title: Daniel Brosseau/President