Mitsubishi invests in copper production in the US

Mitsubishi will acquire a 30% stake in a copper mining development project in Arizona, USA, cementing global interest in the metal.

The Japanese group announced it will invest approximately 88 billion yen (€510 million), aiming for the mine to become operational around 2029, ensuring a stable supply of copper. The project, initiated by the Canadian company Hudbay Minerals, aims to complete commercialization research by 2026 and envisions the production of up to 100,000 tons of copper per year, with Mitsubishi securing a 30% share of the output. The Japanese company also stated it is evaluating the possibility of building smelting plants.

The Trump administration has imposed a 50% tariff on products such as semi-finished copper, but raw materials are exempt from the duty. For this reason, analysts point out that efforts to rebuild copper production and processing systems in the United States could intensify.

Demand for copper is expected to increase due to its wide range of applications, from electric vehicles to renewable energy networks. However, there are concerns that global supply may decline, as a growing number of mines have exhausted their reserves and the costs of developing new deposits have risen.

The United States is one of the world's leading copper producers, ranking fifth in production and seventh in reserves. Mitsubishi hopes that acquiring a stake in the new project will help ensure greater availability and a stable supply of the metal, the statement said.