Rio Tinto approves $144 million for Arizona copper project Resolution Copper
Rio Tinto has approved $144 million for the next phase of the Resolution Copper deposit in Arizona, with its own share at $79 million, per Dow Jones.
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what happened
Rio Tinto has signed off on $144 million for the next stage of developing a large, still-undeveloped copper deposit in Arizona. Its own share is $79 million, and minority partner BHP covers the rest. The money will go to feasibility studies and final design work for shaft handling equipment and new water treatment plants, along with exploration drilling, underground equipment and long-lead electrical gear. According to Dow Jones Newswires, citing the company, the program will also create about 50 additional jobs.
TradingView, citing RTTNews, reported that Rio Tinto shares were quoted at $127.55 in pre-market trading on the NYSE, after falling 3.93% in the previous regular session.
why it matters
Resolution Copper could become one of the largest copper mines in the US, supporting domestic supply and reducing reliance on imports. For copper markets this is a long-term signal of growing local output, while for Rio Tinto and BHP shareholders the timing and cost of startup matter most.
tags
instruments
sources
- Rio Tinto Approves $144M Investment for Resolution Copper Project in Arizona — Dow Jones Newswires, 5 November 2026 at 14:41 UTC
- Rio Approves $144 Mln Investment In Copper Project In Arizona — TradingView, 5 November 2026 at 14:54 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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