Japan’s Mitsubishi Corporation has approved a new $423 million capital contribution to advance construction of the Copper World mining project in Arizona, which it is developing jointly with Canada’s Hudbay Minerals. With this amount, Mitsubishi’s total investment in the project will reach approximately $1.02 billion.
The new commitment adds to a previous $420 million investment for a 30% stake in the project, plus $180 million earmarked for future development costs, both approved in August 2025. Copper World was included in a Japan–U.S. critical minerals cooperation framework announced in March of this year, reflecting both countries’ strategic interest in securing copper supply chains.
The mine is expected to begin production in the second half of 2029, with average annual output of about 100,000 tonnes of copper over the life of the deposit. Copper is a critical input both for building construction, where it is used extensively in electrical wiring and systems, and for energy and technology infrastructure, so projects of this scale have direct implications for material availability and cost in the U.S. construction industry.
The approval establishes Copper World as one of the country’s next major copper mining projects, amid strong demand driven by electrification and infrastructure expansion.
Source: Engineering News-Record (ENR), with information from Reuters