Hudbay and Mitsubishi Approve Copper World Project Construction; Advancing Next Major U.S. Copper Mine Towards First Production in 2029
Hudbay and Mitsubishi have formally approved the final investment decision to construct the Copper World copper mine in Arizona, following a definitive feasibility study, with first production targeted for the second half of 2029. The Base Case shows $2.07 billion of initial growth capital, annual production of 102,000 tonnes of copper over the first 10 years at $1.65/lb average cash costs, and after-tax NPV (8%) of $1.2 billion rising to $2.3 billion at $6.00/lb copper; the 37-year Extension Case NPV reaches $2.5 billion to $4.0 billion.
Key figures
- Reserves
- 390 million tonnes at 0.47% copper
- Irr base case
- 16.8%
- Npv8 base case
- 1241000000
- Payback period
- 5.4 years
- Cash cost per lb
- $1.65
- First production
- second half of 2029
- Capital intensity
- $22,600 per annual copper tonne
- Irr extension case
- 18.8%
- Mine life base case
- 15 years
- Npv8 extension case
- 2510000000
- Initial growth capital
- 2070000000
- Mine life extension case
- 37 years
- Ebitda base case yrs 1 10
- $661 million
- Levered irr hudbay base case
- 32%
- Levered irr hudbay extension case
- 44%
- Consolidated annual copper production tonnes
- 250000
- Annual copper production first 10 years tonnes
- 102000
AI analysis
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