Hudbay Minerals, Mitsubishi Approve Construction of Copper World Project in Arizona

05:53 AM EDT, 10/21/2026 (MT Newswires) -- Hudbay Minerals (HBM.TO) and its joint venture partner Mitsubishi have approved the final investment decision to proceed with construction of the Copper World project in Arizona. The final investment decision follows the release of a definitive feasibility study and related pre-feasibility studies for the project, Hudbay said Wednesday. The project has a 15-year mine life, an after-tax net present value discounted at 8% of $1.2 billion, internal rate of return of 17% and an initial payback period of 5.4 years. Annual copper production was outlined at 102,000 tonnes over the first 10 years. First production is targeted for the first half of 2029. Hudbay owns 70% and Mitsubishi owns 30% of the Copper World joint venture.