Hudbay Minerals Advances Copper World Project in Arizona
Hudbay Minerals is advancing its Copper World project in Arizona, positioning itself as a key U.S. supplier of critical minerals for renewable energy. The $1.3 billion project comprises seven deposits and is expected to produce 85,000 tonnes of copper annually over a 20-year mine life.
A feasibility study is scheduled for completion next year, with construction decisions anticipated in 2026. The copper cathode produced at Copper World would be sold to U.S. customers, making it the third-largest copper cathode producer in the country. The project, located near Tucson, benefits from existing infrastructure, including transportation routes and power lines.
CEO Peter Kukielski emphasized the critical role of copper in renewable energy and reaffirmed Hudbay's commitment to responsible mining. Copper World will meet growing demand not only for electric vehicles but also for broader infrastructure, manufacturing, and data centers.
The project contains 385 million tonnes of reserves at an average grade of 0.54% copper. Gold and silver byproducts will further support the project's economics. The mine is expected to create 400 direct jobs and up to 3,000 indirect jobs in supporting industries.
Hudbay plans to produce copper cathode on-site, reducing emissions by eliminating the need for overseas refining. The company is also exploring the use of autonomous or electric haul trucks to improve sustainability.
Arizona provides favorable conditions for mining, with a skilled workforce and strong regulatory support. Hudbay has received an Aquifer Protection Permit and expects to obtain an Air Quality Permit by the end of 2024. The mine aims to achieve net-neutral water usage by recharging the aquifer.
