Hudbay, Mitsubishi greenlight Copper World mine construction in Arizona
HBM•Hudbay and Mitsubishi made a final investment decision on October 21, 2026, to develop Copper World in Arizona, with initial growth capital of about $2.07 billion. First production is targeted for the second half of 2029.
1. Project investment decision
Hudbay, which owns 70% of Copper World, and Mitsubishi, which owns 30%, made a final investment decision on October 21, 2026, to develop the Arizona mine. Initial growth capital is approximately $2.07 billion, net of equipment financing, on a 100% basis in 2026 dollars, and first production is targeted for the second half of 2029.
2. Funding plan
Funding includes Mitsubishi’s $600 million investment, a $230 million precious metals stream deposit and approximately $650 million in anticipated project-level debt. The remaining capital will come from pro rata equity contributions, which are not expected to be required until 2028.
