Explainer · Industry

Copper World: from approval to first copper in 2029

Updated October 21, 2026 · Numbers as published by each source on the date shown

Hudbay and Mitsubishi approved building the Copper World mine southeast of Tucson, Arizona on October 21, 2026, with first copper targeted for the second half of 2029. Most of the time left is construction: a 36-month build of the mine, processing plant and infrastructure. The major permits for the first phase are already in hand.

What was approved

Hudbay Minerals and Mitsubishi Corporation made a final investment decision to build Copper World, an open pit copper mine about 50 kilometers (31 miles) southeast of Tucson. Hudbay owns 70 percent and Mitsubishi owns 30 percent. The decision followed a definitive feasibility study, the detailed engineering and cost work that comes before a company commits to build.

Hudbay says Copper World will be one of the largest open pit copper mines in the United States and that, with its other growth projects, it is expected to double the company's annual copper production.

Why it takes three years from approval to copper

The first construction phase covers the mine, a processing plant that can handle 60,000 tons of ore per day, and related infrastructure. Hudbay puts its cost at $2.07 billion, to be spent over a 36-month period before commercial production in the second half of 2029. The plant will produce copper concentrate and molybdenum concentrate.

The funding plan starts with Mitsubishi's $600 million initial investment and a $230 million deposit from Wheaton Precious Metals, followed by about $650 million of planned project-level debt, according to Hudbay.

The years before approval: discovery, studies, permits

The project includes four deposits that Hudbay says were discovered in 2021, together with the East deposit. Hudbay published an early economic assessment in 2022 and a pre-feasibility study in September 2023, then spent the years since on metallurgical testing and engineering. It announced Mitsubishi's $600 million investment for a 30 percent stake in August 2025.

The first phase is designed to stay on Hudbay's private land, which needs only state and local permits. Hudbay says all major permits have been obtained for construction and initial operations.

Across the industry, S&P Global Market Intelligence found in 2023 that 127 precious and base metal mines that started production between 2002 and 2023 took an average of 15.7 years from discovery to commercial production. It said the US is known for permitting processes that can take seven to 10 years.

How much copper and how many jobs

• Copper. 102,000 tonnes a year on average over the first 10 years, from a 15-year mine plan.
• Growth. A plant expansion to 90,000 tons per day in year five is planned to raise output to an average of 120,000 tonnes a year in years six to 10.
• Jobs. More than 1,000 construction jobs, 500 permanent jobs and up to 3,000 indirect jobs in Arizona, Hudbay expects.
• Taxes. More than $1.1 billion in total US taxes over the 15-year plan, including about $200 million to the state of Arizona and $362 million in local property taxes.

Why it matters for US copper supply

Hudbay expects global mine production to struggle to keep up with copper demand from electrification and data centers, and the United States to remain a copper importer. Mining Technology reports that both the Japanese and US governments have highlighted Copper World as a project of strategic importance for the resilience of critical minerals supply chains.

The Monday Haul follows the build and other big projects every week. Past issues are in the archive, and you can follow industry across the country on the live dashboard.

What comes later: the federal land extension

A longer plan would extend mining onto federal lands starting in year 10, which would need federal permits. It would stretch the mine life to 37 years. Hudbay notes that under the federal FAST-41 process, mining projects in Arizona have received federal permits in about three years. A permitted concentrate leach facility could also let the site make copper cathode in the US later on, and Hudbay says it will keep evaluating that option.

Common questions

Sources

• Hudbay and Mitsubishi approve Copper World project construction, Hudbay Minerals, Oct 21, 2026.
• Mitsubishi grants approval for Copper World mine in Arizona, Shree Mishra, Mining Technology, Oct 21, 2026.
• Discovery to production averages 15.7 years for 127 mines, Paul Manalo, S&P Global Market Intelligence, Jun 6, 2023.