Hudbay Minerals and Mitsubishi have approved the construction of the Copper World copper mine in Arizona, aiming for first production in the second half of 2029. The project, a joint venture with Hudbay holding 70% and Mitsubishi 30%, is set to be one of the largest open-pit copper mines in the U.S., doubling Hudbay's annual copper output to about 250,000 tonnes. The feasibility study highlights robust economics with a $1.2 billion net present value and a 17% internal rate of return at $5.00 per pound copper. The project features low capital intensity, a phased expansion plan, and significant community benefits including job creation and tax revenues. Hudbay's disciplined funding plan defers its capital contribution until 2028, supported by Mitsubishi's investment and project-level debt financing.
As of Oct 21, 2026 12:11 WIB, Hudbay Minerals Inc. (HBM) shares trade at USD 23.98 on Pluang, showing a modest 0.25% gain for the day. The company holds a market capitalization of $10.61 billion and an enterprise value of $10.68 billion, reflecting its significant presence in the basic materials sector. This strong market position aligns with Hudbay's advancing Copper World project, which aims to substantially increase its copper output by 2029.
