Gunnison Copper (TSX:GCU) has received approval under the Arizona Commerce Authority’s Qualified Facility Tax Credit (QFTC) Program for its operations in the US, resulting in non-dilutive refundable tax credit funding.
CEO Craig Hallworth says the funding supports the company manufacturing its pure American copper in Arizona.
“As we continue to advance our made-in-America copper platform, we remain focused on creating high-quality jobs, working collaboratively with local communities and stakeholders, and supporting secure domestic supply chains for critical industries including infrastructure, manufacturing, energy, data centres, and defence,” Hallworth says.
The QFTC Program is designed to support capital investment and high-quality job creation in Arizona through refundable state income tax credits tied to qualifying investments and net new full-time employment.
Gunnison Copper says this approval reinforces its growing alignment with US domestic critical mineral properties through the manufacturing of copper cathode. Further, it also adds to the company’s expanding track record of government and institutional support.
More about Gunnison
The Gunnison Copper Project, located in the Southern Arizona Copper Belt, has a main pit measured and indicated mineral resource of more than 846 million tonnes @ 0.33% copper.
A preliminary economic assessment was completed earlier this year, yielding robust economics including a net present value of US$2 billion ($2.89 billion) and an internal rate of return of 23%.
The project has an average annual copper cathode production of 174 million pounds for the first 15 years, which is equivalent to more than 11% of the current US domestic refined copper metal production from mineralised material. The total copper production is estimated to be 3.2 billion pounds over a 21-year period.
The company’s namesake project is being developed as a conventional operation with open-pit mining, heap leach, and SX/EW refinery to produce finished copper cathode onsite with direct rail link.
Gunnison Copper is a multi-asset pure-play copper developer and producer that controls the Cochise Mining District. The district contains 12 known deposits within an 8km economic radius.
Write to Aaliyah Rogan at Mining.com.au
Images: Gunnison Copper
