Hudbay Minerals, a mining company, is on the verge of commencing construction on its Copper World project in Arizona. The company has secured the second-to-last permit needed for construction – the Aquifer Protection Permit, granted by the Arizona Department of Environmental Quality. This brings Hudbay Minerals one step closer to establishing Copper World, a project with the potential to become a significant domestic source of copper cathode.
Hudbay Minerals’ President and CEO, Peter Kukielski, stated that securing the aquifer protection permit represents a substantial de-risking event for the Copper World project. The final hurdle before construction can begin is the acquisition of an air quality permit, which Kukielski anticipates receiving by the end of the year. Following this, Hudbay plans to conduct a definitive feasibility study by 2025 and seek a joint venture partner to share costs and expertise, ensuring the project’s financial and operational viability.
Located in Pima County, Arizona, approximately 30 miles southeast of Tucson, Copper World is poised to be a transformative project for both Hudbay Minerals and the U.S. copper industry. The project encompasses seven deposits discovered in 2021 and is projected to produce 85,000 tons of copper annually over a 20-year mine life. This output would represent an increase of more than 50% in Hudbay’s annual copper production, making Copper World the third-largest copper cathode producer in the United States upon its commencement in 2029.
The company estimates that the project will generate over $850 million in taxes throughout its lifetime and create more than 400 direct jobs, along with up to 3,000 indirect jobs. This stands in contrast to Hudbay’s adjacent Rosemont project, which faced setbacks in 2019 due to a federal court ruling citing concerns about its potential environmental impact. Copper World’s advantage lies in its primary development on private land, mitigating these concerns.
The United States produced approximately 1.1 million tons of recoverable copper in 2023. Copper World’s projected annual output of 85,000 tons could increase domestic production by about 8%. This would strengthen the U.S. supply chain and reduce dependency on foreign sources, a crucial aspect in a world where mineral development is increasingly seen as a matter of national security.
