Mitsubishi to Invest $600M in US Copper Mine

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Japan’s Mitsubishi Corporation announced on Thursday that it will invest $600 million to acquire a 30 percent stake in a copper mining project in the United States. The move comes amid growing U.S. demand for copper and ongoing trade measures imposed by the Trump administration.

The mining project, named Copper World, is being developed by Canadian company Hudbay Minerals outside Tucson, Arizona. Mitsubishi’s investment will support the construction and development of the mine, with production expected to begin around 2029. The venture anticipates producing up to 100,000 tons of copper per year once fully operational.

Copper is a critical resource for a range of industries, including construction, electronics, and energy. The United States ranks as the world’s second-largest consumer of copper. Analysts cite increasing population, rising industrial and residential electricity demand, and the expansion of electric vehicles and AI technologies as key drivers for projected copper consumption growth.

Mitsubishi noted that its investment aligns with anticipated U.S. demand growth, particularly as the country continues to transition toward electrification and renewable energy infrastructure. Copper is a key component in electrical wiring, power grids, and electric vehicle batteries, making domestic supply an important strategic resource.

The investment also comes after the Trump administration imposed tariffs on certain copper products in August. The 50 percent duties targeted semi-finished goods, including wires, pipes, and copper-intensive items such as cables and electrical components. Officials said the measures aim to encourage domestic production and reduce reliance on foreign copper imports. Mitsubishi’s participation in the Copper World project represents a significant infusion of foreign capital into U.S. mining, supporting these policy goals.

Hudbay Minerals has emphasized that the Copper World project will adhere to U.S. environmental regulations and standards for responsible mining. The project is expected to generate jobs during the construction phase and ongoing employment once production begins. Both Mitsubishi and Hudbay have cited the strategic importance of securing reliable copper supplies amid global competition for the metal.

Industry observers note that global copper demand is rising faster than supply in many regions. Projects like Copper World are considered essential to maintaining stable supply chains and supporting technological and industrial growth in the United States. Mitsubishi’s investment demonstrates international confidence in the U.S. mining sector and the long-term potential for domestic copper production.

The Copper World project is still in the development phase, with detailed engineering, permitting, and site preparation expected to continue over the next several years. Mitsubishi’s stake in the project is part of a broader strategy to invest in natural resources that support the energy transition and critical infrastructure needs in major markets, including the United States.

As the U.S. continues to strengthen its industrial base and expand its energy and technology sectors, projects like Copper World are expected to play an increasingly important role in meeting domestic demand for essential minerals.