Rio Tinto injects $144 million into Resolution Copper after land battle win
2026-11-06 11:13:41 [Print]
Rio Tinto has approved a $144 million investment to advance its Resolution Copper project in Arizona, months after securing control of land needed for what could become one of the largest copper mines in the US.
The funding will support feasibility studies and engineering work for mining equipment and water treatment facilities. Rio Tinto will contribute $79 million, reflecting its 55% stake in the joint venture, while BHP will cover the remaining 45%. The companies expect the next phase to create about 50 additional jobs.
"Resolution Copper has the potential to supply up to 25% of America's copper demand for decades, strengthen domestic supply chains and deliver significant economic benefits for Arizona," Rio Tinto chief executive, copper, Katie Jackson said in a statement.
Located near Superior, Arizona, the copper deposit lies between 5,000 and 7,000 feet (1,524 and 2,134 metres) underground. Rio Tinto has targeted the mid-2030s for the mine's opening, although the development remains subject to further studies and approvals.
The project is estimated to contain more than 40 billion lb. (18.1 million tonnes) of copper, with the potential to support production for decades.
The funding will support feasibility studies and engineering work for mining equipment and water treatment facilities. Rio Tinto will contribute $79 million, reflecting its 55% stake in the joint venture, while BHP will cover the remaining 45%. The companies expect the next phase to create about 50 additional jobs.
"Resolution Copper has the potential to supply up to 25% of America's copper demand for decades, strengthen domestic supply chains and deliver significant economic benefits for Arizona," Rio Tinto chief executive, copper, Katie Jackson said in a statement.
Located near Superior, Arizona, the copper deposit lies between 5,000 and 7,000 feet (1,524 and 2,134 metres) underground. Rio Tinto has targeted the mid-2030s for the mine's opening, although the development remains subject to further studies and approvals.
The project is estimated to contain more than 40 billion lb. (18.1 million tonnes) of copper, with the potential to support production for decades.
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