Name of the Project
Resolution copper mining (RCM) project.

Location
Arizona, in the US.

Project Owner/s
Resolution Copper Mining, owned by Resolution Copper Company (55%), a subsidiary of Rio Tinto, and BHP Copper (45%), a subsidiary of BHP.

Project Description
Resolution is one of the most significant undeveloped copper deposits in the world.

When fully operational, the project has the potential to supply nearly 25% of the US’ copper demand.

Potential Job Creation
The project is expected to create several thousand direct and indirect jobs in the Pioneer mining district of Arizona.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Funding for the project is proportional among the project partners.

Planned Start/End Date
BHP reported in January 2021 that any mine construction is expected to be several years away and will be subject to additional regulatory and government approvals, as well as stakeholder consultation, including with the relevant Native American tribes to seek consent.

Latest Developments
A key Native American leader in Arizona declined to meet Rio Tinto's chief executive at the end of September, the latest roadblock in the mining giant's search for a "win-win" compromise to build its controversial RCM project.

The visit from Rio's Jakob Stausholm to the state underscores Resolution's importance to the Anglo-Australian company, which has spent more than $2-billion on the project in the past decade, but has yet to produce any copper.

Rio must first win approval from the San Carlos Apache tribe, an unlikely prospect, as chairperson Terry Rambler and other tribal leaders have long signalled that their opposition centres on religious concerns and cannot be assuaged by economic incentives.

Stausholm, in his first visit to Arizona since becoming CEO in January, said he is hopeful the two sides can reach an agreement that will allow for the project to go ahead.

"We're trying to find a win-win. I do think that's in everyone's interest. But I reckon that we still have work to do," Stausholm told Reuters in a video interview on September 30 from Phoenix.

"If we haven't explained ourselves well enough, then we need to explain ourselves better."

The Arizona dispute centres on Oak Flat Campground, which the San Carlos Apache consider home to deities. The underground mine would cause a crater that would swallow the site.

US President Joe Biden – who received a critical endorsement from the San Carlos Apache during his presidential bid – put the project temporarily on hold in March.

A Bill, currently under consideration in the US Congress, would undo 2014 legislation that approved a land transfer to give Rio access to the copper deposit.

Stausholm has tried, unsuccessfully, to meet with Rambler during his Arizona visit and Rambler told news publication Reuters that he would rather spend his time lobbying Congress to block the land transfer.

"If they wanted to meet they should have met way before anything was done in 2014. My focus now is on changing that law," Rambler adds.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Resolution Copper Mining, tel +1520689 9374 or email info@resolutioncopper.com.
Resolution Copper Mining project information line, tel +1520689 3409.