Mitsubishi Approves Additional $423 Million for Arizona's Copper World Mine: Total Investment to Reach About $1.02 Billion
Japan's Mitsubishi Corporation announced on Oct. 21 that it has formally approved development of the Copper World copper project in Arizona with Canada's Hudbay Minerals, and will make an additional equity contribution of $423 million toward the project's initial development. Mitsubishi previously paid $420 million for a 30 percent stake in August 2025 and approved a further $180 million toward future development costs; with the new contribution, its total investment in the project is expected to reach about $1.02 billion. The project, about 50 kilometers south of Tucson, has obtained all major permits required for initial development and operation.
Production is expected to begin in the second half of 2029, with average annual copper output of about 100,000 tons over an initial mine life of 15 years. The project was included in the Japan-U.S. critical minerals cooperation framework announced in March. Copper is essential to grid upgrades, electric vehicles and data centers, and both governments treat domestic critical-minerals supply chains as an economic-security priority amid tight global supply and high prices.
Published by GSM · USA (original Chinese edition)
Photo: 公共领域图片（亚利桑那州 Morenci 铜矿区，资料图）
