rosemont
Operator: Hudbay
Location: USA
Term of Stream: Life of Mine
Stream Parameters: 100% of silver production and 100% of gold production
Upfront Consideration: US$230M
Stream: Gold and Silver
Primary Metal: Copper

Project Overview

The Copper World Project is a copper-molybdenum-silver porphyry deposit located in Pima County, Arizona. Hudbay acquired the project in July 2014 through the acquisition of Augusta Resources Corporation.

The Copper World Deposit consists of skarn-hosted copper-molybdenum-silver mineralization related to quartz-monzonite porphyry intrusions. Genetically, it is a style of porphyry copper deposit, although intrusive rocks are volumetrically minor within the resource area. Mineralization is mostly in the form of primary (hypogene) copper-molybdenum-silver sulfides, found in stockwork veinlets and disseminated in the altered host rock. Some oxidized copper mineralization is also present.

In March 2019, Hudbay announced the conclusion of the permitting process for Copper World with its receipt of the Section 404 Water Permit from the U.S. Army Corps of Engineers and the Mine Plan of Operations from the U.S. Forest Service. However, in August 2019, Hudbay announced that the U.S. District Court for the District of Arizona (“Court”) issued a ruling in the lawsuits challenging the U.S. Forest Service’s issuance of the Final Record of Decision (“FROD”) for the Copper World project in Arizona. The Court ruled to vacate and remand the FROD such that Copper World cannot proceed with construction at this time. Hudbay stated that they believe that the Court has misinterpreted federal mining laws and Forest Service regulations as they apply to Copper World and as such, they have appealed the Court’s decision. To date, Wheaton has not made any upfront payments relative to Copper World.

More Information

For more information about Copper World, please visit Hudbay’s website at www.hudbay.com.

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