A US District Court's decision to block Hudbay Minerals' Rosemont project, a proposed open-pit copper mine in southern Arizona, overshadowed the company's second-quarter earnings results, executives said in a conference call on Friday August 9.
"We are deeply disappointed and frustrated by the decision, which appears to overturn decades of settled mining law in the United States," Hudbay interim chief executive officer Peter Kukielski said during the call.The US District Court for Arizona on July 31 overturned the US Forest Service's June 2017 decision to greenlight the project, citing the agency's "inherently flawed analysis from the inception of the proposed Rosemont Mine."Hudbay announced this month that it will appeal that decision to the US Ninth Circuit Court of Appeals, but the appeals timeline could take 12-24 months, Kukielski noted during the conference call."We are assessing other options...