Rio Tinto Says $144 Million Investment Approved for Arizona Copper Project

Rio Tinto approved $144m for the Resolution Copper project in Arizona, with $79m from its share. The funds will support feasibility studies, engineering, and equipment procurement. The project is a joint venture with BHP and aims to supply 25% of US copper demand. Rio Tinto's copper chief highlighted the project's economic benefits and job creation potential.

Rio Tinto and BHP approved an additional $144M (A$208M) for the Resolution copper project in Arizona. The project is one of the world's largest untapped copper deposits.

Rio Tinto and BHP have invested $144 million in their Resolution Copper project in Arizona, advancing one of the world’s largest undeveloped copper deposits. Rio Tinto will contribute $79 million, while BHP will provide the remaining $65 million. The funding will support feasibility studies, engineering designs, and equipment procurement. Resolution Copper plans to hire 50 additional employees. The project still faces permitting and legal risks before a final construction decision can be made.

Rio Tinto opened two lithium projects in Argentina, Fénix 1B and Sal de Vida, with a combined $1.4 billion investment. The projects, now ramping up production, will add 25,000 tonnes of annual lithium carbonate equivalent capacity. Rio Tinto aims to reach 200,000 tonnes of annual production capacity by 2028. President Milei and local authorities attended the inauguration.

Rio Tinto approved a $205 million investment in the Resolution Copper project in Arizona, months after resolving a court dispute. The project, a joint venture with BHP, aims to be a major US copper source. Rio's $79 million share will fund feasibility studies and engineering. The mine is expected to create 50 jobs and produce 18.1 million tonnes of copper, meeting over a quarter of US demand. Copper prices are linked to AI infrastructure growth.

Rio Tinto approved $144M investment in Resolution Copper, with $79M from its share, for Arizona project development. Funds will support feasibility studies, equipment purchases, and exploration. Project could supply 25% of US copper demand and create jobs. Resolution Copper is one of the world's largest untapped copper deposits.