Can you provide us with a comprehensive overview of the Copper World Complex?

Absolutely. The Copper World Complex is a traditional open pit operation that includes a copper sulfide ore processing plant as well as an oxide leach plant. Our operation produces copper concentrates and cathodes, as well as some molybdenum. During its first phase, the Copper World Complex will produce an average of approximately 86,000 t/y of copper over its 16-year life. At a 10% rate, the project in this phase has an after-tax net present value of US$741 million, which makes it quite attractive. Additionally, when combining phase 1 with phase 2, the Copper World Complex will have an after-tax net present value of US$1,296 million.

The first phase of the Copper World Complex is exclusively on private land, which means that it only requires state and local permits. We have already acquired the surface rights and purchased 4,500 acres of land for this phase. However, for the second phase, Rosemont, we will need federal permits because it is on Forest Service and BLM lands. This phase will extend the total life of the operation to approximately 44 years. We are currently in full pre-feasibility of the project and plan to complete the engineering this year. Next year, we will continue with feasibility studies for the project.

What is Hudbay Minerals’ strategy for growth in the coming years?

Our strategy for growth is focused on creating value for our shareholders and stakeholders. We are constantly seeking out new opportunities and conducting due diligence to find those that align with our goals. Additionally, we are aggressively exploring in different parts of the world to expand our operations. We have new projects in Manitoba, Canada, and opportunities to optimize and grow our current operations.

At Constancia, we are looking at several opportunities that could be satellite pits, which could bring in more metal production. We are evaluating whether it makes sense to develop these opportunities. The same is true in Manitoba, Nevada, and at the Copper World Complex in Arizona, where we have high expectations for growth. Overall, we are focused on crystallizing opportunities around our operations to drive value for our stakeholders.