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Hudbay and Mitsubishi approve $2.07B Copper World project with first production targeted for late 2029
HBMHudbay Minerals Inc.
Hudbay Minerals Inc. and joint venture partner Mitsubishi Corporation announced the final investment decision to proceed with construction of the Copper World project in Arizona. The 100% basis initial growth capital expenditures are approved at approximately $2,070 million. Funding includes a $600 million equity contribution from Mitsubishi, a $230 million deposit from Wheaton Precious Metals Corp., and anticipated project-level debt financing of roughly $650 million. First production is targeted for the second half of 2029. Hudbay Minerals Inc. operates in the mining industry, focusing on the exploration, development, and production of base and precious metals.