In a significant reversal, Toronto-based Hudbay Minerals Inc. now says it will initially export all unrefined copper concentrate produced at its proposed Copper World mining complex rather than converting the concentrate into refined copper on site for sale to U.S. markets.
“100% of the copper produced at Copper World during the first (four) years will be in the form of concentrate and sold externally,” Hudbay states in a Sept. 9 Pre-Feasibility Study (PFS) technical report required by Canadian securities regulations.
However, what Hudbay is now telling regulators and investors about its production plans is not what it is telling the public through its website, where the company continues to state that Copper World will be dedicated to producing finished copper for U.S. markets.
“The Copper World Complex has been designed to meet the growing copper demand in the U.S. through the onsite production of “Made in America” copper cathode, which is expected to be sold entirely to domestic U.S. customers,” Hudbay’s website states.
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