Hudbay Minerals Secures Final Permit for Copper World Project in Arizona

Hudbay Minerals Secures Final Permit for Copper World Project in Arizona

Hudbay Minerals has received the final regulatory approval for its Copper World project in Pima County, Arizona. The Arizona Department of Environmental Quality (ADEQ) granted the air quality permit. This completes the set of state-level authorizations needed. These include the mined land reclamation plan and aquifer protection permit.

Project Overview and Economic Prospects Highlighted

The Copper World project will operate for an estimated 20 years. It will produce approximately 85,000 tonnes of copper annually. Phase I requires a $1.3 billion capital investment. A $400 million concentrate leach facility will follow in year four. The project’s after-tax NPV is $1.1 billion. Its IRR is 19%. Phase II, expanding onto federal lands, could further enhance its economics. Federal permitting is required.

Economic Benefits and Job Creation Anticipated

Hudbay estimates the project will generate over $850 million in taxes. Arizona will receive $170 million. The project will create more than 400 direct jobs. Up to 3,000 indirect jobs will also be created. This offers significant economic benefits to the region.

Next Steps and Future Plans Outlined

Hudbay plans to seek a minority joint venture (JV) partner in early 2025. This will fund definitive feasibility studies. It will also support final design and construction. With regulatory approvals, Hudbay expects a final sanctioning decision in 2026. Further studies and financial strategies will occur throughout 2025. SuperMetalPrice will continue to monitor the progress of the Copper World Project.