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Hudbay Minerals Announces Positive Preliminary Economic Assessment for its Mason Copper Project
27-year mine life with average annual copper production of approximately 140,000 tonnes over the first ten years of full production. Mason has the potential to
About this update from Hudbay Minerals Inc
[{"type":"text","content":" 27-year mine life with average annual copper production of approximately 140,000 tonnes over the first ten years of full production. Mason has the potential to more than double Hudbay’s current copper production levels, and if brought into production, Mason is expected to become the third largest copper mine in the United States. After-tax net present value (10%) of $519 million and 13.7% internal rate of return at $3.10 per pound copper, which increases to $773 million and 15.4%, respectively, at $3.25 per pound copper. Mine plan assumes the construction of a 120,000 tonnes per day conventional flotation concentrator and an initial capital cost estimate of approximately $2.1 billion. The mine plan includes 1.1 billion tonnes at 0.34% copper-equivalenti, 98% of which is from the measured and indicated categories. Mason’s 2.2 billion tonne measured and indicated resource estimate is one of the largest greenfield copper projects in the Americas. Opportunities to further enhance project economics through exploration for higher-grade satellite deposits on Hudbay’s prospective land package in Nevada. Mason is a viable long-term option for potential future development and a strong component of Hudbay’s pipeline of long-term growth opportunities in mining friendly jurisdictions. TORONTO, April 06, 2021 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE: HBM) today announced the results of its preliminary economic assessment (“PEA”) of its 100%-owned Mason copper project located in Nevada, United States. All dollar amounts are in US dollars, unless otherwise noted. “The Mason PEA demonstrates the success of Hudbay’s consistent growth strategy and our team’s ability to create value from accretive acquisitions of high-quality copper projects in mining-friendly jurisdictions,” said Peter Kukielski, Hudbay’s President and Chief Executive Officer. “We added Mason to our development pipeline portfolio in 2018 and have since leveraged our integrated core competencies of exploration, mine planning and project development to demonstrate that Mason is a quality long-term development project in our robust organic growth pipeline.” Hudbay’s Mason Development Strategy The Mason project is a large greenfield copper deposit located in the historic Yerington District of Nevada and is one of the largest undeveloped copper p...