Mar 22 2019
On March 29th, 2019, Hudbay Minerals Inc. announced the receipt of the approved Mine Plan of Operations (“MPO”) for the Rosemont project from the U.S. Forest Service. The issuance of the MPO is the last administrative phase in the permitting process.
Receiving the MPO is an important milestone that completes the permitting process at Rosemont. With the receipt of the Section 404 Water Permit, an agreement to consolidate 100% ownership and receipt of the approved MPO, Hudbay continues to move the project forward. Rosemont is now a fully permitted, shovel-ready copper project and we look forward to developing this world-class asset.
Alan Hair, President and Chief Executive Officer, Hudbay Minerals Inc.
One of the world’s best emergent copper projects is Rosemont, situated in Arizona, which offers a 15.5% after-tax unlevered IRR at a copper price of $3.00 per pound based on the 2017 Feasibility Study published by Hudbay. Rosemont is estimated to yield around 127,000 tons of copper yearly at a cash cost of $1.14 per pound (net of by-product credits) for the first decade of operations.
Forward-Looking Information
This news release includes forward-looking information within the connotation of applicable Canadian and the United States securities legislation. Forward-looking information comprises of, but is not restricted to, strategies to start the development of Rosemont and estimated copper production and costs, and investment returns from Rosemont. Forward-looking information is not, and cannot be, an assurance of future results or proceedings. Forward-looking information is based upon assumptions, opinions, estimates, and analyses and much more that were regarded as rational by the company at the date of providing the forward-looking information; however, they are innately subject to considerable risks, uncertainties, contingencies, and other factors that may cause actual results and events to be materially different from those presented or implied by the forward-looking information.
The material factors or assumptions identified and applied by the company in reaching conclusions or making predictions or estimations established in the forward-looking information comprise of, but are not restricted to, the timing and probable result of pending litigation associated with the Rosemont permits, no important unanticipated litigation or delays to the development of Rosemont, and the availability of financing to develop Rosemont.
The uncertainties, risks, unforeseen events, and other factors that may cause actual results to vary materially from those presented or implied by the forward-looking information may involve, but are not restricted to, risks usually involved in the mining industry, for example, economic factors (such as currency fluctuations, future commodity prices, general cost escalation, and energy prices), and also the risks discussed under the topic “Risk Factors” in Hudbay’s latest Annual Information Form.
In case of materialization of one or more risk, contingency, uncertainty, or other factor or if any factor or statement prove untrue, original results could differ materially from those presented or implied in the forward-looking information. Therefore, forward-looking information should not be relied on excessively. Hudbay does not take up any responsibility to revise or update any forward-looking information after the date of this news release or to elucidate any material difference between successive actual events and any forward-looking information, except as demanded by applicable law.