Name of the Project
Rosemont copper project.

Location
Arizona, in the US.

Project Owner/s
Hudbay Minerals.

Project Description
Rosemont is one of the world’s best undeveloped copper projects.

The project has total proven and probable reserves of 537.1-million tonnes grading 0.45% copper, 0.012% molybdenum and 4.58 g/t silver. A technical report completed on the project in 2017 envisages a traditional openpit shovel/truck operation.

The project is expected to produce about 127 000 t/y of copper over the first ten years of operation.

The technical report envisages a mine life of 19 years.

Potential Job Creation
The project is expected to create more than 2 500 direct jobs and 4 060 jobs during construction.

The mine is expected to employ more than 500 full-time employees in mining, process operations and general administration during active mining.

Net Present Value/Internal Rate of Return
The project is expected to deliver a 15.5% after-tax unlevered internal rate of return at a copper price of $3/lb.

Capital Expenditure
The project will require an investment of $1.92-billion.

Planned Start/End Date
Not stated.

Latest Developments
Hudbay Minerals has vowed to appeal a court ruling that has barred it from building the Rosemont copper project, after losing its bid to have a judge revisit the decision.

US District Judge James Soto said there was no basis to reconsider an earlier ruling that overturned approvals for the project, delivering a setback for Hudbay as it seeks to revive plans for the stalled openpit mine.

Hudbay director of investor relations Candace Brule has said the company is disappointed with the decision and will proceed with an appeal as it studies next steps for the project.

"This ruling confirms that the court continues to misinterpret decades of precedent and the federal regulations and mining laws that govern the Rosemont project," she has said.

At issue is the validity of mining claims that will enable the company to dispose of mine waste on public lands adjacent to its operations.

The US District Court for Arizona in July overturned approvals issued by the US Forest Service for the mine, siding with environmental and tribal groups opposed to the plan.

Hudbay said in August it would appeal that ruling, but it first asked the court to reconsider the decision on the grounds that it had overstepped its authority.

Hudbay had planned to start construction of Rosemont by the end of this year, with first production expected by the end of 2022

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Hudbay Minerals, tel +1 416362 8181 or email info@hudbayminerals.com.