Hudbay Minerals Inc T.HBM

Challenge to Hudbay project dismissed

[llihevad1]

https://www.gvnews.com/news/challenge-to-hudbay-project-dismissed/article_bf393a2e-ebc8-11ed-92f1-2335734248f7.html

A Superior Court judge has dismissed a challenge to an amended plan by Hudbay Minerals for its Copper World operation in the Santa Rita Mountains.

In an April 28 opinion, Judge Joseph P. Mikitish said arguments by Farmers Investment Co. (FICO) and activist group Save the Scenic Santa Ritas that State Mine Inspector Paul D. Marsh failed to carry out his duties had “no basis.”

Mikitish, in his ruling, wrote that that FICO and SSSR’s sole complaint was that Marsh “failed to apply the law as they would like it to be applied.”

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At issue were changes by Hudbay to its Mined Land Reclamation Plan for its Copper World project on the western side of the mountains. Hudbay filed the original plan in August 2021, and an amended plan in May 2022. The amended plan included four major changes, including six open pit mines instead of two, and 3,954 acres instead of 1,292.

 

Marsh ruled the changes were “not substantial,” and thus did not trigger a “notice and objection process.” FICO and SSSR disagreed with the decision, but the court shot down their arguments. Read the ruling at gvnews.com.

“The dismissal of this case is another step forward for Copper World and bringing a domestic supply of the copper we need to power a cleaner energy future,” Hudbay said in a statement after the ruling.

“The amended Mined Land Reclamation Plan (MLRP), approved by the Arizona Mine Inspector, lays out the reclamation approach for our updated footprint, and puts in place bonding for the costs of that reclamation,” it said. “The required bonding ensures that funds are available for reclamation regardless of Hudbay's financial resources at the time reclamation needs to begin. It is a critical piece of the development process for Copper World.”

[Swl1896]

Now we need a similar ruling for Rosemont 

[llihevad1]

I think that Rosemont will eventually sort itself out but Copper world in near term, will provide a much needed bump in the de-risking of the Arizona property capital. The combination of CMMC and Hudbay also brings a current investor in the CMMC property that would ( I would believe) have been involved in the discussions on the combination. The future is so bright I need to wear shades...