Name of the Project
Copper World Complex.

Location
Arizona, in the US.

Project Owner/s
Base metals miner Hudbay Minerals.

Project Description
The results of a September 2023 enhanced prefeasibility study (PFS) for Phase 1 of the project has significantly enhanced the economics and derisks the project through higher levels of engineering, a simplified project design, lower upfront capital expenditure and a longer mine life.

Copper World is planned to be a traditional openpit truck-and-shovel operation, with a conventional flotation concentrator producing copper concentrate and molybdenum concentrate, with an expansion of the processing facility to include a copper concentrate leach facility in Year 5, producing copper cathode and silver/gold doré.

The overall mining operation is expected to comprise four openpits in Phase 1.

The mine plan for Phase 1 is optimised solely on the flotation of copper sulphides and oxides.

Phase 1 envisages a standalone operation with life of mine (LoM) of 20 years, four years longer than the Phase 1 LoM presented in the preliminary economic assessment that was published in June 2022. This is owing to an increase in the capacity for tailings and waste deposition, as a result of optimising the site layout.

The first phase of the project proposes average copper production of 85 000 t/y over the LoM. A variable cutoff-grade strategy allows for higher mill head grades in the first ten years and increases production to about 92 000 t/y of copper.

Phase 2 is expected to involve an expansion on to federal lands, with an extended LoM and enhanced project economics.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Phase 1 has an estimated after-tax net present value, at an 8% discount rate, of $1.1-billion and an internal rate of return of 19.2%, with a payback of 5.9 years at $3.75/lb copper.

Capital Expenditure
Total initial capital costs are estimated at $1.3 billion for Phase 1, including all costs associated with the construction of the concentrator and associated infrastructure.

Planned Start/End Date
Not stated.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Hudbay Minerals, tel +1 416 362 8181 or email info@hudbayminerals.com.