From Pulse 2.0 · Amit Chowdhry · · 1m 40s
Hudbay And Mitsubishi Approve $2.07 Billion Copper Project
Hudbay and Mitsubishi finalize $2.07 billion copper mine in Arizona for 2029 production.
In brief
Hudbay and Mitsubishi finalize $2.07 billion copper mine in Arizona for 2029 production. Hudbay and Mitsubishi approved a $2.07 billion copper mine project in Arizona expected to produce 102,000 tonnes of copper annually by 2029. Originally reported by Pulse 2.0.
Approval of Copper World Project
Hudbay Minerals and Mitsubishi approved the final investment decision for the Copper World project in Arizona, advancing construction toward first production in 2029.
Ownership Structure
Hudbay owns 70% of the project, while Mitsubishi holds the remaining 30% through a joint venture established in January 2026.
Project Investment
Copper World requires approximately $2.07 billion of initial growth capital, or $1.84 billion after accounting for a precious metals stream deposit.
Project Location and Production
The project is located about 31 miles southeast of Tucson and is expected to produce 102,000 tonnes of copper annually during its first 10 years.
Feasibility Study Details
The definitive feasibility study outlines a 15-year base-case mine life using proven and probable reserves of approximately 390 million tonnes grading 0.47% copper.
Financial Projections
At a long-term copper price of $5 per pound, the base case has an estimated after-tax net present value of approximately $1.2 billion and an internal rate of return of roughly 17%.
Production Expansion Plan
Hudbay plans to add an in-pit crushing and conveying system and increase concentrator capacity to 90,000 tons per day beginning in year five.
Extension Case Scenario
An extension case would expand mining activity onto federal lands beginning in year 10, potentially extending the mine life to 37 years and supporting average production of approximately 117,000 tonnes of copper annually during years…
The essence
Hudbay and Mitsubishi approved a $2.07 billion copper mine project in Arizona expected to produce 102,000 tonnes of copper annually by 2029.
