Rio Tinto injects another $302m into Arizona copper project
PERTH (miningweekly.com) – Major Rio Tinto will invest a further $302-million to advance the Resolution copper project, in Arizona.
Rio, which owns a 55% interest in the project, and project partner BHP, which owns the remaining 45% interest, have invested over $2-billion on the permit since 2004, including on sinking a new shaft to mining depth, rehabilitating an existing shaft, as well as on drilling, orebody testing and permitting.
Rio said on Monday that its latest investment into the project would fund additional drilling, orebody studies, infrastructure improvements and permitting activities as the company worked towards progressing the project to the final stage of the permitting phase.
“Resolution is one of the most significant undeveloped copper deposits in the world and this additional funding demonstrates Rio Tinto’s commitment to bring the mine into production. The comprehensive permitting process is well under way with the environmental impact study on track to be completed next year according to the regulators schedule,” said Rio CEO Jean-Sebastian Jacques.
When fully operational, Resolution had the potential to supply nearly 25% of the US copper demand and would create several thousand direct and indirect jobs in the Pioneer mining district of Arizona.
The project was currently in its seventh year of a comprehensive environmental review and approval process, conducted by the US Forest Service under the National Environmental Policy Act.
“The rise of electric vehicles, battery storage, new transmission technology and other green energy innovations are highly copper intensive. We need to prepare now to meet this future demand. Resolution will be well positioned to provide North American manufacturers the copper that is essential to their products,” Jacques said.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation