Hudbay, Mitsubishi approve construction of Copper World mine in Arizona
HBM•Hudbay Minerals and Mitsubishi authorized construction of the Copper World copper mine in Arizona, with initial development capital of $2.07 billion and first production targeted for the second half of 2029. The feasibility study projects average annual production of 102,000 tonnes over the first decade.
1. Project approval
Hudbay Minerals and Mitsubishi authorized construction of the Copper World copper mine in Arizona. Initial development capital totals $2.07 billion, and first production is targeted for the second half of 2029.
2. Production and costs
The feasibility study projects average annual copper production of 102,000 tonnes over the first decade, at cash costs of $1.65 per pound. Hudbay’s expected capital contribution is approximately $500 million, with payments deferred until 2028 under the project’s financing plan.
3. Project returns
The 15-year base case has an after-tax net present value of $1.24 billion at a copper price of $5 per pound.
