HUDBAY, MITSUBISHI APPROVE $2.07 BILLION COPPER MINE

Hudbay Minerals ($HBM) and Mitsubishi Corporation greenlit construction of the Copper World project in Arizona, committing $2.07 billion to build what the companies call the next major U.S. copper mine. First production is targeted for the second half of 2029, with Hudbay holding 70% of the joint venture and Mitsubishi the remaining 30%. The base case mine life runs 15 years, though Hudbay says an extension case could stretch output to 37 years.