Toronto-based Hudbay Minerals Inc. has announced benchmarks it must achieve before it proceeds with construction of the Copper World/Rosemont mine complex in the Santa Rita Mountains 35 miles southwest of Tucson.
The requirements include a provision that Hudbay must find a joint venture partner willing to invest an unknown amount in the $2.8 billion project. Hudbay bought out a previous joint venture partner in 2019.
The benchmarks also include financial targets requiring Hudbay to reduce long-term debt and increase cash reserves. Hudbay’s strategy also limits debt earmarked to the project to $500 million.
Hudbay Minerals Benchmarks for Copper World/Rosemont
In addition, Hudbay states it must renegotiate a metal streaming agreement where it receives $230 million for mine construction in exchange for long term sales of gold and silver at fixed prices.
HUDBAY IS IN ARIZONA TO STAY AS ECONOMIC GUESTS OF THE FEDERAL GOVERNMENT . THEY WILL MINE THE ROSEMONT DEPOSITS UNTIL THEIR MINERAL RESOURCES ARE EXHAUSTED . THIS HAS BEEN MADE POSSIBLE BY A LACK OF RULES AND REGULATIONS WHEN IT COMES TO ALLOWING FOREIGN COMPANIES THE FREEDOM AND RIGHTS TO EXPLOIT STRATEGIC MINERAL RESOURCES . HUDBAY HAS DONE NOTHING WRONG AS A MINING COMPANY . ARIZONA IS TESTIMONY TO THE DEVASTATION THAT MINING COMPANIES CREATE . IF YOU WANT TO BE ” THE KING OF COPPER ” , THEN YOU MUST BEAR THE CONSEQUENCES . HUDBAY IS A BUSINESS AND IT IS ALL ABOUT MAKING MONEY , MONEY AND MORE MONEY . IT IS JUST ANOTHER FORD OR GM .
THE US FEDERAL GOVERNMENT MIGHT CONSIDER NATIONALIZING ALL ” STRATEGIC MINERALS ” . FIRST THEY MUST IDENTIFY SUCH MINERALS . FOLLOWING THIS , POLICES FOR THE EXPLOITATION/MINING/PROCESSING/ETC CAN BE PUT IN PLACE KEEPING IN MIND THAT MINING IS BASED ON A NON-RENEWABLE PRODUCT . THE US SHOULD EXAMINE SAUDI ARABIA’S POLICIES REGARDING MINERAL MINING . THE US CAN THEN INVITE FOREIGN INVESTMENT/PARTICIPATION BUT THE RESOURCES REMAIN THE PROPERTY OF THE GOVERNMENT .
WHY DID YOU DELETE MY SECOND COMMENT ????