AZL General Discussion, page-3232

The companies mining in Arizona have "grandfathered" water rights because they were operating before groundwater management was enacted. New ones have a real problem with water supply, and that includes AZL, the one you mentioned and the other one nearby that is in the exploration stages. Meanwhile, have you ever heard of a couple companies named Rio Tinto and BHP? They can provide a lesson for AZL investors:

April 19 (Reuters) - Mining giant Rio Tinto Plc (RIO.L) has tried for more than a quarter century to launch Arizona’s Resolution copper project, which would be one of the world’s largest underground mines.The company and minority partner BHP (BHPB.L) have spent $2 billion but have yet to produce any copper, a key material used to make electric vehicles.

The mine was put on hold by the Biden administration last month amid opposition from Native American groups and environmentalists. Local leaders and many residents support the mine because of its economic benefits.Here's a history of the project since copper was found there more than two decades ago.

"Rio Tinto's 26-year struggle to develop massive Arizona copper mine"

https://www.reuters.com/business/energy/rio-tintos-26-year-struggle-develop-massive-arizona-copper-mine-2021-04-19/