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Hudbay Minerals has approved an early works programme at its Rosemont copper project in Arizona, USA, that will see it invest an initial US$122 million of the $1.9 billion capex required to build the mine. The early works will be funded from cash on hand of $515 million as at the end of 2018.
Rosemont in Arizona, USA
Company management believes that by proceeding with early works and financing activities in parallel, it can seek board approval to commence Rosemont construction by the end of 2019.
Exploration continues as discretionary spending cut
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