Hudbay Minerals Nears Final Permit For Copper World Project in Arizona

Hudbay Minerals HBM has secured the second-last permit to begin constructing its Copper World project in Arizona.

The Aquifer Protection Permit, granted by the Arizona Department of Environmental Quality, inches the company closer to opening Copper World, a project with the potential to be one of the largest domestic sources of copper cathode.

"Receiving the aquifer protection permit is a significant de-risking event for Copper World as it brings us one step closer to being fully permitted," said Hudbay's president and CEO Peter Kukielski.

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The final hurdle before construction can commence is the acquisition of an air quality permit, which Kukielski expects to be completed by the end of the year. Then, Hudbay plans to conduct a definitive feasibility study by 2025 and seek a joint venture partner to share costs and expertise, ensuring the project is financially and operationally robust.

Copper World, located in Pima County, Arizona, around 30 miles southeast of Tucson, is set to be a transformative project for Hudbay and the U.S. copper industry.

The project, encompassing seven deposits discovered in 2021, is expected to produce 85,000 tons of copper annually over a 20-year mine life. This output would increase Hudbay's annual copper production by more than 50%, making Copper World the third-largest copper cathode producer in the United States once operational in 2029.

The company estimates that the project would contribute over $850 million in taxes throughout its mine life and create more than 400 direct jobs, alongside up to 3,000 indirect jobs.

While Hudbay's adjacent Rosemont project stalled in 2019 following a federal court ruling that cited concerns about its potential impact on federal lands and local water resources, Copper World's advantage is that it is primarily developed on private land.

In 2023, the U.S. produced approximately 1.1 million tons of recoverable copper. Thus, by adding 85,000 tons annually, Copper World could increase domestic production by about 8%, reinforcing the U.S. supply chain and reducing dependency on foreign sources—an increasingly important fact in a world where mineral development slowly becomes a matter of national security.

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