Official: Construction Of Rosemont Mine Will Be Delayed For 3 Years After Court Ruling

Nov 13, 2019

An official for the company proposing to build an open-pit copper mine southeast of Tucson says construction likely will be delayed at least until 2023 because of a federal court ruling.

The Santa Rita Mountains outside of Tucson where the Rosemont mine would be built.
Credit publicnewsservice.org

David Bryson, senior vice president and chief financial officer for Hudbay Minerals Incorporated told investment analysts about the expected construction delay on Tuesday in a conference call, according to the Arizona Daily Star.

The Toronto-based company also says construction delays for the Rosemont Mine in the Santa Rita Mountains forced it to pay a $242 million impairment charge, reflecting a reduced value.

The $1.9 billion mine project has been in the planning stages since 2005. But, it's been in legal limbo since a federal judge halted work July 31, a day before its scheduled construction start.