Late Friday afternoon, the U. S. Forest Service announced the long anticipated Record of Decision (ROD) for the Rosemont Copper project will be signed in early June, 2017. This is welcomed news for many southern Arizonans, who have been waiting ten long years for the permitting process to run its course.
Located along the eastern flank of the Santa Rita Mountains approximately 30 miles southeast of Tucson, Arizona, the Rosemont copper deposit has been extensively evaluated since its discovery by the Banner Mining Company during the early 1960s. Results contained in the most recent NI 43-101 technical report and feasibility study released by Hudbay Minerals on March 30, 2017 suggest the proposed 19-year project would earn a 15.5% after tax internal rate of return at $3.00/lb. copper.
In addition to individuals who will be directly employed by the Rosemont Copper project, many of Arizona’s businesses that provide goods and services to the area’s mines will also benefit from Hudbay Minerals’ $1.9 billion investment in our community. A large portion of this initial investment as well as the cash flow generated over the life of the project will find its way into Arizonans’ pocketbooks. Federal, state and local governments will directly and indirectly benefit from tax revenues generated from this economic activity.
Responsible development of large infrastructure projects like Rosemont Copper benefits all Americans by reducing our nation’s unsustainable trade deficits, which transfer badly needed revenues abroad that could otherwise be invested here. It also enhances our national security by reducing America’s reliance on imported goods, making us less vulnerable to decisions made by foreign governments.
Last November Arizonans supported President Trump’s vision to “Make America Great Again.” We now call on him to back our efforts to make Rosemont and Arizona’s other major copper projects a reality.
Disclaimer: David F. Briggs is a resident of Pima County and a retired geologist, who intermittently worked on the Rosemont Copper project from 2006 until 2014. The opinions expressed in this article are the author’s and do not necessarily reflect those of Rosemont Copper.
Copyright (2017) by David F. Briggs. Reprint is permitted only if credit of authorship is provided and linked back to the source.