HBM is the second company covered, more - positive - awareness of Copper World.
https://www.northernminer.com/news/us-snapshot-mining-and-exploration-for-copper-gold-rare-earths-and-more/1003872367/
By: Northern Miner Staff October 17, 2024
At the end of August, Hudbay Minerals (TSX: HBM; NYSE: HBM) received its Aquifer Protection permit for the Copper World project in southern Arizona, bringing the proposed open pit mine one step closer to production.
The permitting process for the first stage is expected to require only state and local permits and management continues to work on securing the Air Quality Permit, the last key state-level permit required, Hudbay says.
Copper World, one of the highest-grade open pit copper projects in the Americas, is expected to produce 85,000 tonnes of copper a year over an initial mine life of 20 years at average cash costs and all-in sustaining costs of US$1.47 and US$1.81 per lb. copper, respectively.
prefeasibility study last year on the first stage outlined an after-tax net present value (at an 8% discount rate) of US$1.1 billion, with a 19% internal rate of return at a copper price of US$3.75 per pound. Capital costs were pegged at US$1.3 billion with a payback of just under six years.
Copper World has 1.2 billion measured and indicated tonnes grading 0.42% copper for 5 million lb. of in-situ copper
Hudbay received a favourable ruling last year from the U.S. Court of Appeals for the Ninth Circuit Court that reversed the U.S. Fish and Wildlife Service’s designation of the Copper World area as a critical habitat for jaguars. Hudbay said at the time that the ruling won’t impact the state permitting process for Stage 1 but is expected to simplify federal permitting for the second stage.
Copper World, formerly referred to as Rosemont, is about 45 km southeast of Tucson in Pima County.
Hudbay Minerals has a market cap of about $5 billion.