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Mon, Oct. 19

Proposed copper mine construction likely delayed until 2023

A federal judge overturned the U.S. Forest Service's approval of a Canadian company's planned new copper mine in southeastern Arizona. The judge ruled the agency improperly evaluated and considered water use associated with the Rosemont Mine planned on part of the Coronado National Forest. (Anita Snow/Associated Press)

A federal judge overturned the U.S. Forest Service's approval of a Canadian company's planned new copper mine in southeastern Arizona. The judge ruled the agency improperly evaluated and considered water use associated with the Rosemont Mine planned on part of the Coronado National Forest. (Anita Snow/Associated Press)

TUCSON, Ariz. (AP) — 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 due to a federal court ruling.

David Bryson, senior vice president and chief financial officer for Hudbay Minerals Inc., told investment analysts about the expected construction delay Nov. 12 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 swallow 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.

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