Gunnison Copper reaches deal with Nuton to expand Johnson Camp mine plan

Gunnison Copper reaches deal with Nuton to expand Johnson Camp mine plan Proactive Wed, September 16, 2026 at 10:34 PM GMT+9 2 min read GCU.TO +3.61% HG=F -0.60% RIO +2.35% 3XS0.F +5.26% GCUMF +5.64% Gunnison Copper reaches deal with Nuton to expand Johnson Camp mine plan Proactive uses images sourced from Shutterstock Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF, FRA:3XS0) will receive an US$8 million payment from Rio Tinto-backed Nuton LLC, after the two companies agreed to add roughly 3 million tons of mineralized material to the Stage 2 mine plan at the Johnson Camp Mine in southeast Arizona.

The additional tons are expected to be mined within the planned demonstration period between 2027 and 2029, enhancing project value while maintaining the existing Stage 2 schedule.

The revised mine plan is expected to preserve Gunnison's operational capabilities and experienced workforce throughout the demonstration period, supporting operational continuity and future project opportunities.

Gunnison CEO Craig Hallworth told shareholders that the optimized mine plan "further enhances the value of Johnson Camp."

"The additional material supports continued operations, preserves critical workforce and technical capabilities, strengthens the long-term outlook for the project, and advances our mission to reliably supply pure American copper from Southern Arizona," Hallworth said in a statement.

The company also announced it has elected not to proceed with claiming the Department of Energy 48C Tax Credits that were conditionally awarded in January 2025 as part of the 48C selection process. Gunnison will continue to evaluate U.S. federal tax incentive opportunities to maximize value and support the long-term interests of the company.

Gunnison Copper is a multi-asset, pure-play copper developer and producer that controls the Cochise Mining District, containing 12 known deposits within an 8-km economic radius in the Southern Arizona Copper Belt. Its Johnson Camp asset is now in production and fully funded by Nuton, with a production capacity of up to 25 million pounds of finished copper cathode annually.

Gunnison expects to receive the payment in the fourth quarter of 2026.