BASE METALS

Arizona copper project advances

Rio Tinto and BHP's Resolution copper project in Arizona has reached a milestone

Staff reporter
Resolution is one of the world's largest undeveloped copper resources

Resolution is one of the world's largest undeveloped copper resources

The six-year review was conducted by the US States Forest Service.

The publication of the DEIS triggers a further public consultation process over a 90-day period, which will inform the final environmental impact statement (EIS) and the next steps in the permitting process for the project.

"This is an important milestone for Resolution, with the future development of the project being shaped by years of engagement with the local community and extensive independent study by the US Forest Service," Rio Tinto chief executive Copper & Diamonds Arnaud Soirat said.

"Achieving this significant milestone in the rigorous US permitting process allows us to continue progressing one of the world's most significant untapped copper deposits towards development."

Rio Tinto says Resolution has the potential to supply up to 25% of the US' copper demand.

"Long-term copper fundamentals remain strong - with supply challenged and demand driven by the adoption of electric vehicles, the electrification of industry and a growing share of renewables in the energy mix," Soirat said.

"Rio Tinto will be well positioned to benefit from this demand outlook and to provide North American manufacturers with the materials that are essential to their products."

Rio Tinto owns 55% of the project, with BHP holding the balance. The joint venture will have spent more than US$2 billion on Resolution by 2020, including $302 million approved this year.

Work underway includes reclamation of the historic Magma copper mine site, sinking a second shaft to mining depth, rehabilitating an existing shaft, extensive drilling and ore body testing, and the permitting and public engagement process.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.