Gunnison Copper CFO Craig Hallworth talked with Proactive's Angela Harmantas from the PDAC conference in Toronto about the company’s recent pivot from in-situ leaching to an open pit mining operation at its Gunnison project in Arizona. Hallworth explained that this shift is expected to unlock greater metal recovery, taking advantage of the 550-million-ton copper deposit in the region.
The company finalized a key land option agreement in November 2024, securing the necessary footprint for the open pit. A recent study outlined a $1.3 billion NPV and a 21% IRR, with an 18-year mine life. Notably, Gunnison Copper is exploring additional revenue opportunities through byproduct sales, including gravel and limestone, which could add hundreds of millions of dollars to the project’s economics.
Beyond Gunnison, the company is progressing with its Johnson Camp Mine in partnership with Rio Tinto subsidiary Newton. The mine is set to produce 25 million pounds of copper per year, with full funding from Newton. Production is expected to begin later in 2025, delivering fully American-made copper cathode.
Additionally, Gunnison Copper has secured $13.9 million in government grants and expects to monetize tax incentives under the 48C program by Q4 2025. These initiatives align with the U.S. government’s push to support domestic mining operations.
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