On August 13 Hudbay Minerals announced it has agreed to sell a 30% interest in its fully permitted Copper World project in Arizona to Mitsubishi Corporation for $600 million. The transaction includes $420 million payable at closing and an additional $180 million within 18 months, with Mitsubishi also funding its pro-rata share of future capital contributions. Phase I of Copper World has a planned 20-year mine life, producing an average of 85,000 tonnes of copper annually (about 92,000 tonnes in the first 10 years) at cash costs of $1.47/lb. The project’s total capital investment is estimated at $1.5 billion, and the partnership is expected to lift Hudbay’s leveraged IRR to around 90% based on PFS estimates. Mitsubishi, which holds stakes in several of the world’s largest copper mines, will join Hudbay in advancing a definitive feasibility study, targeted for completion by mid-2026, ahead of a 2026 construction decision. Hudbay also reached a non-binding agreement with Wheaton Precious Metals to amend its precious metals stream, adding up to $70 million in contingent payments for future expansion and changing gold and silver pricing to 15% of spot prices. Copper World’s construction is expected to create over 1,000 jobs, with 400 direct jobs and 3,000 indirect jobs once operational, delivering “Made in America” copper to strengthen the U.S. critical minerals supply chain.