Supported by a robust definitive feasibility study, Hudbay Minerals and Mitsubishi Corporation have formally approved construction and development of the Copper World project in Arizona, approximately 31 miles southeast of Tucson.
The study outlines annual copper production of 102,000 tonnes (t) over the first 10 years, an 11% increase when compared to 92,000 t in Hudbay’s 2023 pre-feasibility study for Copper World.
“The robust Copper World DFS and our joint final investment decision paves the road to production in the second half of 2029, establishing a low-capital intensity, high-margin operation that will generate strong long-term returns for Hudbay, Mitsubishi and our stakeholders,” said Eugene Lei, Hudbay president and chief financial officer and chair of the Copper World joint venture board.
Copper World is planned to be a traditional open-pit, shovel-and-truck operation with a conventional flotation concentrator producing copper concentrate and molybdenum concentrate.
A fully permitted concentrate leach facility, which would produce “Made in America” copper cathode for the U.S. critical minerals supply chain, represents a key future upside opportunity. The project also retains significant extension potential through future development of adjacent federal lands, which could extend mine life by approximately 25 years.
Hudbay has secured all major permits required for development and initial operation of Copper World. It owns 70% of Copper World; Mitsubishi holds the remaining 30% stake.
Sources: Hudbay Minerals and Mitsubishi Corporation
The post Hudbay, Mitsubishi greenlight Copper World construction first appeared on North American Mining Magazine.