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Ptah

(33,517 posts)
Wed Nov 13, 2019, 08:51 AM Nov 2019

Rosemont Mine construction likely delayed to 2023, company says

Rosemont Mine construction is likely to be delayed at least until 2023 because of the federal court ruling against the mine, a company official told investment analysts Tuesday.

While the company plans to appeal the ruling, “We are sort of assuming a restart of construction in 2023,” said David Bryson, senior vice president and chief financial officer for Hudbay Minerals Inc., the company proposing to build the open-pit copper mine southeast of Tucson.

“We think that provides a reasonable allowance for the conclusion of litigation, as well as remobilization in order to sort of get back to a point where we could start construction,” Bryson said, according to a transcript of the conference call with analysts.

The Toronto-based company reported Tuesday that construction delays for the mine in the Santa Rita Mountains forced it to swallow a $242 million impairment charge for Rosemont, reflecting a reduced value.


https://tucson.com/news/local/rosemont-mine-construction-likely-delayed-to-company-says/article_a58aaad8-bcb3-5956-bae4-64abb476f7a0.html



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Rosemont Mine construction likely delayed to 2023, company says (Original Post) Ptah Nov 2019 OP
Rosemont! ChazInAz Nov 2019 #1

ChazInAz

(2,793 posts)
1. Rosemont!
Wed Nov 13, 2019, 11:34 AM
Nov 2019

How long have they been spreading bribes in the legislature and regulatory bodies, now?
Seems like forever.

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