Hudbay’s other major copper project in Arizona, the larger and neighbouring Rosemont, which suffered a major setback in early May after a judge confirmed a 2019 ruling that halted the $2 billion-project on environmental grounds.
The company said Copper World’s two-phase mine plan has an after-tax net present value of almost $1.3 billion and will generate an 18% internal rate of return, based on a copper price of $3.50 per pound.
Total project capital costs included in the PEA are estimated to be $1.9 billion for Phase I of Copper World, including $572 million of owner’s costs associated with mining equipment, pre-stripping activities as well as all operating costs capitalized before the start of production, Hudbay said.
The Toronto-based miner said it did not believe any federal permits were required for the first phase of complex mine plan as it sits on private land, rather than federal land.
“The [Copper World] project…
