Back in October last year, HTC confirmed that the One mini 2 will receive an Android 5.0 Lollipop update, but now it looks like the update has been cancelled.

Responding to a query on Twitter (see below), the company said it has determined that Lollipop on the One mini 2 will not provide an optimal experience, and hence it won't receive the update.
@EdoardoBerti We determined that Lollipop on the One mini 2 will not provide an optimal experience; it isn't scheduled to receive the update— HTC (@htc) April 27, 2015

For those who aren't in the know, the One mini successor was announced by the Taiwanese company back in May last…

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