Hudbay Minerals (HBM) said Thursday that the Arizona Department of Environmental Quality granted an air quality permit for the Copper World project.

It is the final major permit required for the development and operation of Copper World, which is expected to produce 85,000 tonnes of copper per year over an initial 20-year mine life, the company said.

"We have completed one of the three key prerequisites in our sanctioning plan for Copper World," said Chief Executive Officer Peter Kukielski. "We intend to advance feasibility studies and our prudent financial strategy throughout 2025 as we work toward a sanctioning decision in 2026."

Shares of the company were up more than 4% in recent trading.

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