Hudbay Minerals announces major milestone for Copper World Project!

Major Milestone

Hudbay Minerals Inc. has announce that it received an Aquifer Protection Permit for The Copper World project in Arizona from the Arizona Department of Environmental Quality (ADEQ). This achievement marks a significant milestone in advancing Copper World, which is expected to produce 85,000 tonnes of copper per year over a 20-year mine life.

“This permit is a critical step in de-risking Copper World, bringing us closer to full project sanctioning,” said Peter Kukielski, President and CEO. “We are also on track with the Air Quality Permit, which is progressing as planned and will complete the key state-level permits needed to move forward.”

Why is this important?

Copper World is a game-changer for Hudbay and the U.S. copper supply chain. With plans to produce „Made-in-America” copper, this project is set to increase our consolidated annual copper production by more than 50%, supporting the U.S. manufacturing capacity, infrastructure development, and energy independence.

Permitting on Track

• Mined Land Reclamation Plan: Completed and approved, reflecting an expanded project footprint.
• Aquifer Protection Permit: Received in August 2024 after a thorough evaluation process.
• Air Quality Permit: Currently on track, with public comments concluding soon.

Local Impact

Copper World will contribute over $850 million in U.S. taxes, including $170 million to Arizona. It will create more than 400 direct jobs and up to 3,000 indirect jobs, providing competitive wages and engaging in community-based workforce training. Moreover it has a support from local unions, including agreements with The International Brotherhood of Boilermakers, The Laborers International Union of North America, and The United Brotherhood of Carpenters and Joiners of America.

Strengthening Our Team

To support the advancement of Copper World, Hudbay Minerals Inc expanded its local Arizona team with key leadership appointments:

• Javier Del Rio, Senior Vice President of the U.S. Business Unit, is now fully dedicated to leading Copper World.
• Warren Flannery will move to Arizona to oversee operational readiness as Vice President of Copper World.
• Robert Comer has joined as Executive Director, External Affairs & Legal, bringing over 30 years of U.S. permitting and mining law experience.

About Copper World

Located in Pima County, Arizona, Copper World is poised to become a significant copper producer with a robust 20-year mine life. Phase I of the project is projected to deliver substantial economic benefits, with an after-tax NPV of $1.1 billion at an 8% discount rate and a 19% IRR at a copper price of $3.75 per pound. With high-grade reserves and considerable potential for expansion, Copper World stands as one of the top open-pit copper projects in the Americas.